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KBC Groep NV (KBC.BR)

KBC.BR on Brussels Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kbc Group elects Rik Scheerlinck as Group's CFO
Friday, 17 Mar 2017 03:25am EDT 

Kbc Groep Nv : Rik Scheerlinck, presently CEO of K&H Bank and Country CEO, hungary, will become a member of the Executive Committee and will succeed Luc Popelier as KBC Group CFO .Luc Popelier will replace Luc Gijsens as CEO of International Markets Business Unit.  Full Article

Care Property Invest announces placement of 1,570,000 of its shares
Wednesday, 15 Mar 2017 09:12am EDT 

Care Property Invest NV : Trading in care property invest shares resumed . Successful placement of 1,570,000 shares . The 1,570,000 shares were placed by Bank Degroof Petercam NV and KBC Securities NV .The 1,570,000 shares were placed at 19.25 euros ($20.45) per share, a discount of 7.1 percent compared to the closing price on March 14.  Full Article

KBC Group Q4 result after tax of 685 million euros
Thursday, 9 Feb 2017 01:00am EST 

KBC Groep NV : Strong fourth-quarter result of 685 million euros ($731.72 million), leading to a full-year profit of 2.4 billion euros . We will propose to general meeting of shareholders in May to set full (gross) dividend for 2016 at 2.80 euros per share . For full year 2016, net result amounted to 2 427 million euros, compared with 2 639 million euros for 2015 . Q4 net interest income 1.06 billion euros versus 1.05 billion euros in Reuters Poll . Q4 total income 1.90 billion euros versus 1.76 billion euros in Reuters Poll . Q4 non-life insurance before reinsurance 178 million euros versus 147 million euros year ago . Q4 life insurance before reinsurance loss 44 million euros versus loss 51 million euros year ago . Q4 result after tax 685 million euros versus 520 million euros in Reuters Poll . Guidance on KBC’s results for 2017: we anticipate solid returns for all our business units .Guidance on KBC’s results for 2017: for Ireland, in particular, our guidance for loan impairment charges is for a release of 25-75 million euros for the full year..  Full Article

KBC Groep acquires United Bulgarian Bank and Interlease
Friday, 30 Dec 2016 12:22pm EST 

Kbc Groep NV : Acquires United Bulgarian Bank and Interlease, becoming largest bank- insurance group in Bulgaria . will use internal sources/available funds to pay acquisition price in cash. .Acquisition for a total consideration of 610 million euros ($642.94 million).  Full Article

KBC Group reports Q3 net profit rises to 629 million euros
Thursday, 17 Nov 2016 01:00am EST 

KBC Groep NV : Q3 total income EUR 1.73 billion versus EUR 1.70 billion in Reuters poll . Q3 net interest income EUR 1.06 billion versus EUR 1.06 billion in Reuters poll . Q3 life insurance before reinsurance loss EUR 34 million versus loss EUR 51 million year ago . Q3 net profit EUR 629 million versus EUR 547 million in Reuters poll . Q3 non-life insurance before reinsurance profit EUR 164 million versus EUR 142 million year ago . Updated guidance for Irish loan impairment charges is for a release of EUR 10-50 million for the full year . Expects, in line with reassuring third-quarter growth, a sustained economic growth in both the euro area and the US for the rest of 2016 and in 2017 .In 2017, expects two more rate hikes of 25 basis points each.  Full Article

KBC "to look at" Budapest Bank if it comes up for sale -CEO
Tuesday, 27 Sep 2016 01:45am EDT 

KBC Groep Nv : KBC Groep Nv "to look at" Hungarian state-owned Budapest Bank if it comes up for sale -KBC CEO Johan Thijs tells business daily Vilaggazdasag Further company coverage: [KBC.BR] (Reporting by Gergely Szakacs and Krisztina Than) ((gergely.szakacs@tr.com; +36 1 327 4748; Reuters Messaging: gergely.szakacs.thomsonreuters.com@reuters.net)).  Full Article

KBC Groep Q2 net profit beats estimates
Thursday, 11 Aug 2016 01:00am EDT 

KBC Groep NV : Q2 total income 1.89 billion euros ($2.11 billion) versus 1.81 billion euros in Reuters poll . Q2 net interest income 1.07 billion euros versus 1.06 billion euros in Reuters poll . Q2 net profit 721 million euros versus 603 million euros in Reuters poll . Q2 non-life insurance (before reinsurance) 141 million euros versus 155 million euros year ago . Q2 life insurance (before reinsurance) loss of 38 million euros versus loss of 51 million euros year ago . Q2 total assets under management stood at 207 billion euros . The one - off gain on the sale of our visa europe shareholding added to the result . Year-To-Date cost of credit amounted to 0.07% of our loan portfolio . Operating expenses amounted to 904 million euros for the second quarter of 2016, which is a significant reduction on their level in the previous quarter (-24 pct) . Starting this year, and barring exceptional or unforeseen circumstances, KBC will pay each year - an interim dividend of 1 euro per share in November of the accounting year . Starting this year, and barring exceptional or unforeseen circumstances, KBC will pay each year - a final dividend after the annual shareholders’ meeting . Brexit will have a negative effect on the economic recovery in the euro area; it will emphasise main source of fragility, i.e. the relative weakness of investment growth . Expect the remainder of 2016 to be a year of sustained economic growth in both the euro area and the US.  Full Article

KBC's Czech unit CSOB net profit falls 13 percent in Q1
Thursday, 12 May 2016 04:51am EDT 

Czech bank CSOB, a unit of KBC Groep Nv : CSOB says Q1 net profit down 13 percent y/y to CZK 3.3 billion ($139.03 million), impacted by banking taxes, declining margin, lower fees . CSOB says Q1 operating expenses up 5 percent y/y to CZK 4.4 billion due to estimated impact of banking resolution and deposit insurance schemes . CSOB says adjusted for banking taxes, operating expenses would decline 1 pct to CZK 3.6 billion . CSOB says loan volume up 7 percent y/y, deposits rise 7 percent y/y . CSOB says strong growth in business volumes was more than offset by declining net interest margin and lower fee income . CSOB says adjusted for ICT insourcing and estimated impact of banking taxes, Q1 net profit decreased by 9 percent ($1 = 23.7360 Czech crowns) ((prague.newsroom@thomsonreuters.com;)).  Full Article

KBC Groep Q1 net profit at 392 million above estimates
Thursday, 12 May 2016 01:01am EDT 

Kbc Groep NV : Q1 net interest income 1.07 billion euro versus 1.06 billion euro ($1.21 billion) in Reuters poll . Sales of non-life insurance products across almost all our markets were up, and the non-life combined ratio stood at 91 pct year-to-date . Q1 total income 1.69 billion euro versus 1.65 billion euro in Reuters poll . Q1 profit before tax 489 million euro versus 403 million euro in Reuters poll . Q1 net profit of 392 million euro versus 290 million euro in Reuters poll . Q1 non-life insurance (before reinsurance) of 145 million euro versus 167 million euro a year ago . Q1 life insurance (before reinsurance) loss of 35 million euro versus loss of 48 million euro a year ago .Persisting environment of low interest rates poses a real challenge to financial institutions - CEO.  Full Article

KBC Groupe repays all outstanding debt to government 5 years ahead of schedule
Friday, 11 Dec 2015 02:01am EST 

KBC Groupe SA:Repays all outstanding debt to government five years ahead of schedule.Will pay back to Flemish regional government full outstanding tranche of 2 billion euros of state aid.Will pay a penalty of 50 pct, before end of this year.Repayment is made possible thanks to KBC's robust capital position, and was approved by both the National Bank of Belgium (NBB) and the European Central Bank (ECB).Says following repayment capital buffers still well above minimum capital requirements of ECB and NBB.  Full Article

More From Around the Web

Fitch Upgrades KBC to 'A'; Outlook Stable

(The following statement was released by the rating agency) PARIS/LONDON, March 20 (Fitch) Fitch Ratings has upgraded KBC Bank's and KBC Groep NV's (KBC Group) Long-Term Issuer Default Ratings (IDRs) and senior debt ratings to 'A' from 'A-', and Viability Ratings (VR) to 'a' from 'a-'. Fitch has also upgraded KBC Verzekeringen's and KBC Group Re's Insurer Financial Strength (IFS) ratings to 'A+' from 'A', and KBC Verzekeringen's Long-Term IDR to 'A' from 'A-'. The Outlooks are Stable. A ful