January 8, 2014 / 6:49 AM / in 4 years

KBC repays 500 mln euros in state aid

BRUSSELS, Jan 8 (Reuters) - Belgian financial group KBC said on Wednesday it will pay back 500 million euros ($680.33 million) of state aid to the Flemish regional government.

The group, which received 7 billion euros in support from the Belgian federal government and the Flemish regional government at the height of the financial crisis, has already repaid the federal state and a first tranche of what it received from the Flemish government.

KBC, which still has 2 billion euros of state aid to repay, said Wednesday’s transaction would see its common equity ratio stay above the 9.25 percent set by the Belgian regulator. ($1 = 0.7349 euros) (Reporting by Robert-Jan Bartunek)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below