February 22, 2018 / 7:12 AM / in 4 months

BRIEF-KBC Q4 Net profit Down at 399 Million Euros

Feb 22 (Reuters) - KBC GROEP NV:

* REG-KBC GROUP: SOLID FOURTH-QUARTER RESULT OF 399 MILLION EUROS BRINGS FULL-YEAR PROFIT TO AN EXCELLENT 2.6 BILLION EUROS.

* NET PROFIT OF 399 MILLION EUROS IN Q4 OF 2017

* QUARTER UNDER REVIEW WAS IMPACTED BY A ONE-OFF, UPFRONT NEGATIVE EFFECT OF 211 MILLION EUROS DUE TO BELGIAN CORPORATE TAX REFORM

* WE WILL PROPOSE TO GENERAL MEETING OF SHAREHOLDERS IN MAY TOTAL (GROSS) DIVIDEND FOR 2017 BE SET AT 3 EUROS PER SHARE

* COST/INCOME RATIO FOR FULL YEAR 2017 IMPROVED TO A VERY GOOD 54% (FROM 55% IN 2016).

* FY COMMON EQUITY RATIO OF 16.3%

* Q4 NET INTEREST INCOME EUR 1.03 BILLION VERSUS EUR 1.03 BILLION IN REUTERS POLL

* Q4 TOTAL INCOME EUR 1.88 BILLION VERSUS EUR 1.84 BILLION IN REUTERS POLL

* Q4 RESULT AFTER TAX EUR 398 MILLION

* Q4 NON-LIFE INSURANCE BEFORE REINSURANCE EUR 152 MILLION VERSUS EUR 178 MILLION YEAR AGO

* Q4 LIFE INSURANCE BEFORE REINSURANCE LOSS EUR 3 MILLION VERSUS LOSS EUR 44 MILLION YEAR AGO

* FOR IRELAND, OUR GUIDANCE FOR LOAN IMPAIRMENT IN 2018 IS FOR A NET RELEASE OF 100 TO 150 MILLION EUROS FOR FULL YEAR 2018.

* ESTIMATE THE FIRST-TIME APPLICATION OF IFRS 9 TO REDUCE OUR FULLY LOADED COMMON EQUITY RATIO BY AROUND 41 BASIS POINTS

* E IMPACT OF THE REFORM OF THE BELGIAN CORPORATE INCOME TAX SYSTEM WILL HAVE A RECURRING POSITIVE IMPACT ON THE INCOME STATEMENT AS OF 2018

* IMPACT OF BASEL IV ON KBC IS AN ESTIMATED INCREASE IN RISK WEIGHTED ASSETS OF APPROXIMATELY 8 BILLION EUROS Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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