KBC Bank
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| KBC Group NV | |
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| Type | Public |
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| Founded | 1998 |
| Headquarters | Brussels, Belgium |
| Key people | Jan Huyghebaert (Chairman of the board), André Bergen (CEO) |
| Industry | Financial Services |
| Products | Banking and insurance |
| Revenue | €11.498 billion (2005) |
| Employees | 50,000 |
| Website | http://www.kbc.com/ |
KBC Bank NV is a Belgian universal bank, focusing on private clients and small and medium-sized enterprises. Besides retail banking, insurance and asset management activities (in collaboration with sister companies KBC Insurance NV and KBC Asset Management NV), KBC Bank also offers services to businesses and engages in market activities.
The parent company, KBC Group NV, is one of the major companies in Belgium and one of the major financial groups in Europe, employing some 51,000 staff and serving 11 million customers.
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[edit] Recent history
In 1998, three respected Belgian companies - the Kredietbank, ABB-insurance and CERA Bank - merged to form the 'KBC Bank and Insurance Holding Company'. Since then, the group has significantly expanded its activities, chiefly in Central and Eastern Europe. In 2005, KBC set another milestone by merging with its parent company, Almanij, and changing its name to KBC Group NV.
The group is controlled by a syndicate of core shareholders, but has a free float of some 47%. Its market capitalisation in November 2005 was €27bn. Its shares are traded on the Euronext exchange in Brussels (Bloomberg L.P. - KBC BB & Reuters - KBKBT BR).
The group's overall aim is to be an independent, medium-sized provider of bancassurance for private clients and enterprises in selected European countries, with expertise in asset management and the financial markets. In total, the group employs some 50,000 people and serves around 11 million customers worldwide.
[edit] Structure and main subsidiaries
KBC Group NV is the direct parent company of:
- KBC Bank NV
- KBC Insurance NV
- KBC Asset Management NV
- Kredietbank SA Luxembourgeoise
All other KBC Group companies are direct or indirect subsidiaries of these.
[edit] KBC Bank NV
KBC Bank is the main subsidiary. Its first home market is Belgium, where it is one of the top three banks, with a 20-25% market share and over three million customers (counting the customers of the subsidiaries in Belgium). Its second home market is Central Europe, served via subsidiaries and investments in the Czech Republic (CSOB), Slovakia (CSOB), Hungary (K&H Bank), Poland (Kredyt Bank) and Slovenia (Nova Ljubljanska Banka). In practically all of these countries, KBC Bank is a top-3 player by market share. It also has a substantial presence in Ireland through its subsidiary IIB Bank, which is a major player in both the corporate and residential mortgage markets there. In all, KBC Bank has established a presence in some thirty countries around the globe.
KBC Project Finance is a subsidiary of KBC Bank, and has been an active player in the non-recourse financing of projects since the early 1990s. Headquartered in Dublin, it also has professionals based in London, Brussels, New York, Hong Kong, and Sydney. Its main business lines are Energy and Infrastructure. This includes financing projects in sectors such as the oil & gas industry, power, renewable energy, and Public-Private Partnership. It has a portfolio in excess of US$5bn, financing approximately 250 projects worldwide.
KBC Bank also has investment banking operations in Europe, US and Asia. A specialist arm called KBC Financial Products operates primarily in global convertible bonds; its branch in Japan is called KBC Securities Japan, which specialises in secondary equity broking, convertible bonds, warrants, and equity derivatives.
[edit] Kredietbank SA Luxembourgeoise (KBL)
KBL, based in Luxemburg, provides tailor-made private banking services to customers throughout Western Europe via its network of subsidiaries.
Members of the group currently include Puilaetco Dewaay (Belgium), Michaux Gestion SA (France), Merck Finck & Co. (Germany), Brown, Shipley & Co. (Great Britain), Banca KBL Fumagalli Soldan Spa (Italy), Theodoor Gilissen Bankiers NV (The Netherlands), and Kredietbank Suisse SA (Switzerland). Banco Urquijo SA (Spain) is also a member, although in May 2006 the group said it had agreed to sell this company to Banco Sabadell. Subject to regulatory clearance, the sale is to be completed during the third quarter of 2006.
[edit] External links
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