Almanij

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Almanij, meaning Algemene Maatschappij voor Nijverheidskrediet was a Belgian holding active in financial services. It is since March 2005 part of the KBC Group.

1 Structure
2 History
3 See also
4 Source

[edit] Structure

The Almanij group consisted of four companies:

Gevaert NV (investment company which owns 27,2% of Agfa-Gevaert) (Almanij 100%)
Almafin (Almanij 100%)
KBC Bank (Almanij 69,18%)
Kredietbank Luxembourgeoise (KBL) (Almanij 78,60%)

[edit] History

Almanij was incorporated in 1931 as an initiative of the Catholic Algemeene Bankvereeniging, a Belgian bank founded by the Leuvense Volksbank (Leuven) in Antwerp in 1921. This was done in order to regroup its industrial holdings in Belgium and Hungary. In 1935, the Middenkredietkas went nearly bankrupt due to the economic crisis, which lead to the establishment of the Kredietbank of which Almanij became a shareholder. The Catholic Boerenbond (E: Belgian Farmers’ Union) created its own network of savings banks: CERA instead of relying on the Middenkredietkas, which was closely related to the Algemeene Bankvereeniging. In 1949 the Kredietbank Luxembourgeoise was founded in Luxembourg, which specialized in private banking.

In 1997 Almanij gained control of Gevaert, an investment company created in 1981 by Andre Leysen to manage the proceeds of the sale of Agfa-Gevaert to the German company, Bayer. Almanij acquired all shares of Gevaert in 2002. In 1998 Kredietbank Group with CERA Bank and Assurantiën Belgische Boerenbond (E:ABB-insurance) merged into KBC Bank and Insurance Group. In 2004 all activities outside the KBC and KBL groups were transferred to Gevaert.

In 2005, Almanij ceased to exist as a separate entity when it merged with KBC to form the KBC Group.