Key Developments: KBC Groupe SA (KBC.BR)

KBC.BR on Brussels Stock Exchange

46.00EUR
28 Nov 2014
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Latest Key Developments (Source: Significant Developments)

KBC Groupe SA Raises EUR 750 Million Through Issuance Of Mortgage Bonds-Tijd
Friday, 23 Aug 2013 06:39am EDT 

De Tijd reported that KBC Groupe SA has raised EUR 750 million through the issuance of mortgage bonds. These are bonds backed by Belgian mortgage loans. The lead managers of the issuance are the Company, Commerzbank, Deutsche Bank, ING and Unicredit.  Full Article

KBC Groupe SA's KBC Bank Faces Reconsideration of Contributory Negligence Charges-The Irish Times
Wednesday, 26 Jun 2013 08:00pm EDT 

The Irish Times reported that the Irish Supreme Court has ruled the High Court must reconsider its dismissal of contributory negligence by KBC Groupe SA's KBC Bank over multimillion losses suffered by it after a property developer and struck-off solicitor Thomas Byrne defaulted on EUR 25 million in loans. Contributory negligence may be established on evidence a bank failed to manage its business in accordance with sound administrative and accounting principles as required by EU regulations on the licensing and supervision of credit institutions, the court said. KBC Bank was last year awarded EUR 17.7 million damages against Dublin law firm BCM Hanby Wallace (now Byrne Wallace) after the High Court found "egregious" negligence by the firm in ensuring KBC had security for the loans. The bank sought security on 30 properties and got it on three, and the court found "multiple failures" by the firm repeated across four loan transactions.The solicitors claimed the effective cause of the bank's loss was its own failure to assess the borrowers and to supervise loan transactions. BCM appealed the rejection of contributory negligence by KBC but not the substantive finding of negligence against it.  Full Article

KBC Groupe SA Faces Fraud Charges in France-Le Figaro
Thursday, 30 May 2013 08:00pm EDT 

Le Figaro reported that the state prosecutor in France is initiating legal proceedings against KBC Groupe SA. According to Le Figaro, the Company faces a charge of fraud relating to the sale of structured products to Shanti Asset Management in 2006. Shanti Asset Management claims that the Company broke a promise in its sales documentation to replace defaulting assets which were part of the products with healthier ones at no extra charge. KBC Groupe SA argues that this promise was not a legal obligation and did not form part of the contract signed by Shanti Asset Management.  Full Article

KBC Groupe SA Completes Sale Of Absolut Bank-Hugin
Friday, 24 May 2013 12:01pm EDT 

Hugin reported that KBC Groupe SA has completed the deal announced on December 24, 2013, whereby the Company would sell its Russian banking business Absolut Bank to a group of Russian companies. The total consideration amounts to EUR 0.3 billion. In addition, Absolut Bank repaid the entire EUR 0.7 billion of KBC inter company funding by refinancing it with other capital market transactions in the period between signing and closing the deal.  Full Article

KBC Groupe SA To Pay FY 2012 Final Dividend-Hugin
Friday, 3 May 2013 02:00am EDT 

Hugin reported that KBC Groupe SA is to pay out a gross dividend of EUR 1.00 (EUR 0.75 after tax of 25%) per share. The dividend is payable from May 15, 2012 (ex-coupon May 13, 2013, record date May 15, 2013) on presentation of coupon number 44 at a KBC Bank counter. Further details were not disclosed.  Full Article

KBC Groupe SA Reaches Agreement with Societe Generale Srbija and Telenor ASA's Telenor Serbia on the Acquisition of KBC Banka (Serbia)
Thursday, 25 Apr 2013 08:00pm EDT 

KBC Groupe SA announced that it has reached an agreement with Societe Generale Srbija and Telenor ASA's Telenor Serbia on the acquisition of KBC Banka, KBC's banking entity in Serbia. Under the agreement, Telenor will purchase 100% of KBC Banka's shares, while Societe Generale Srbija will acquire KBC Banka's key assets and deposits. All the parties involved agreed not to disclose any financial details of the transaction. For KBC, however, the transaction will have an impact on earnings of an estimated EUR -47 million. Pending regulatory approval, the transaction is expected to be finalised in the fourth quarter of 2013.  Full Article

Kbc Groupe SA Sells Its Stake In Bank Zachodni WBK SA-Reuters
Friday, 22 Mar 2013 03:12am EDT 

Reuters reported that Kbc Groupe SA had sold its a 16.17% stake in Polish group Bank Zachodni WBK SA at PLN 245 per share to institutional investors.  Full Article

KBC Groupe SA Places 16.2% of Bank Zachodni WBK in Market
Sunday, 17 Mar 2013 08:00pm EDT 

KBC Groupe SA (KBC) and Banco Santander announced a secondary offering of up to 19,978,913 shares in Bank Zachodni WBK by way of a fully marketed follow-on offering (the Offering). Through the Offering, KBC plans to sell 15,125,964 shares constituting 16.17% of BZ WBK current shares outstanding and Santander is expected to sell a minimum of 195,216 additional shares (constituting 0.21% of current shares outstanding) and up to 4,852,949 shares (constituting 5.19% of BZ WBK current shares outstanding). Assuming the Offering is completed in full, the free float of BZ WBK following the Offering would be approximately 30%.The Offering will be made to eligible institutional investors and within an indicative price range of PLN 240 to PLN 270. The final sale price will be determined through a bookbuilding process that will begin as of March 18, 2013, and is expected to end no later than March 21, 2013.  Full Article

KBC Groupe SA Finalizes Sale of 22% Stake in NLB
Monday, 11 Mar 2013 08:00pm EDT 

KBC Groupe SA (KBC) announced that the Company ahs finalized the transaction announced as of December 28, 2012, whereby KBC sold its remaining 22% stake in NLB to the Republic of Slovenia for a total consideration of EUR 2,765,282, which represents EUR 1 per share.  Full Article

Banco Santander SA, KBC Groupe SA Plan To Sell Bank Zachodni WBK SA Shares-Reuters
Monday, 11 Mar 2013 04:41am EDT 

Reuters reported that Banco Santander SA and KBC Groupe SA have hired advisers to help them unload shares in Polish lender Bank Zachodni WBK SA (BZ WBK) in 2013, BZ WBK said. KBC has already said it would seek to sell its 16% stake in BZ WBK, which it received as part of the deal to sell its Polish unit Kredyt Bank to Santander, which merged it with BZ WBK. Santander, which holds a 75% stake in BZ WBK, has also committed itself to cutting its stake to increase the lender's freefloat.  Full Article

Fitch Assigns KBC Group's Subordinated Tier 2 Debt 'BBB+' Final Rating

(The following statement was released by the rating agency) PARIS/LONDON, November 25 (Fitch) Fitch Ratings has assigned KBC Groep NV's (KBC Group, A-/Stable/F1) EUR750m callable fixed rate reset subordinated Tier 2 debt securities due November 2024 a final rating of 'BBB+'. The final rating is in line with the expected rating which Fitch assigned to the notes on 18 November 2014 (see 'Fitch Rates KBC Group's Subordinated Tier 2 Debt 'BBB+(EXP)'' at www.fitchratings.com). The notes (ISIN BE0

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