KBC Group : Total amount paid by KBC to Belgian Federal and Flemish Regional governments reaches 6.4 billion euros.
(Thomson Reuters ONE) -
Press release - Outside trading hours - Regulated information*
Brussels,17 December 2012
Total amount paid by KBC to Belgian Federal and Flemish Regional governments
reaches 6.4 billion euros.
On 10 December 2012, KBC announced that it had obtained approval from the
National Bank of Belgium to repay in full the aid it had received from the
Belgian Federal Government. KBC will today effect repayment of 3 billion euros
of state aid plus make payment of a penalty of 15% (450 million euros) to the
Belgian Federal Government, bringing the total amount in repayments, coupon
payments, and premiums for the CDO guarantee to 6.4 billion euros. If, as
planned, KBC repays a first tranche to the Flemish Regional Government in the
first half of 2013, the total paid by the end of 2013 will be around
9 billion euros. By the time KBC has repaid all the aid it received, the total
amount in repayments, coupon payments and premiums for the CDO guarantee will
rise to at least 13 billion euros, compared to the initial amount of 7 billion
euros that KBC received in 2008 and 2009 from the two governments.
Johan Thijs, KBC Group CEO, commented on the payment as follows: 'First of all,
I would like to take this opportunity to express once again our deep gratitude
and appreciation to the Belgian Federal and Flemish Regional governments for
their support at a crucial moment during the 2008-2009 financial crisis. After
years of working hard, and with the loyal support of our employees, customers
and shareholders, we are now in a position to meet our obligations. We are
especially happy that we are able to repay the capital injection of 3.5 billion
euros from the Federal Government earlier than planned, and we hope to continue
this momentum as regards our commitment towards the Flemish Regional
Government.'
Steven Vanackere, Deputy Prime Minister and Minister of Finance, welcomed the
news with the following statement: 'When at the height of the financial crisis
in 2008 and 2009, KBC asked the Belgian Federal and Flemish Regional governments
for support, both governments assumed their responsibility, each providing KBC
with a capital injection of 3.5 billion euros. In addition, the Federal
Government drew up a guarantee agreement in May 2009 for KBC's CDO portfolio.
At the time, the government took the right decision, preventing a systemic
crisis by providing temporary aid. It is good for both KBC and the government
that the capital injection is now being repaid faster than expected. KBC is able
to put a difficult period behind it. And the government is given a sign that the
financial sector is gradually starting to recover.'
The table below gives a breakdown of the amounts KBC has paid to both
governments to date, as well as the payments scheduled for the first half of
2013.
Overview of payments made by KBC to the Belgian Federal and Flemish Regional
governments between the start of the financial crisis and the end of December
2012 and pro memorie for 2013.
(These are cash payments; the date given may differ from the processing date in
the accounts or the capital).
Expected
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
| |2008|2009 |2010 |2011 |2012 |Totaal 2008 |2013 |
| | | | | | |-2012 | |
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|(Federal)| | | | | ?| ?| ? 0|
|YES | | | | |3.500.000.000|3.500.000.000| |
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|(Flemish)| | | | | ? 0| ? 0| ?|
|YES | | | | | | |1.166.666.667|
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|Penalty | | | | |? 525.000.000|? 525.000.000|? 583.333.334|
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|Coupon - | | | | ?|? 297.500.000|? 595.000.000|? 246.000.000|
|Federal | | | |297.500.000| | | |
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|Coupon - | | | | ?|? 297.500.000|? 595.000.000|? 297.500.000|
|Flemish | | | |297.500.000| | | |
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|Sub-total| | | | ?| ?| ?| ?|
| | | | |595.000.000|4.620.000.000|5.215.000.000|2.293.500.001|
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|CDO | | ?| ?| ?|? 340.739.840| ?|? 340.739.840|
|guarantee| |170.369.920|340.739.840|340.739.840| |1.192.589.440| |
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
|Total | | | | | | ?| ?|
| | | | | | |6.407.589.440|2.634.239.841|
+---------+----+-----------+-----------+-----------+-------------+-------------+-------------+
Contact details:
- Wim Allegaert, General Manager, Investor Relations, KBC Group
Tel.: 32 2 429 40 51 wim.allegaert(at)kbc.be
- Viviane Huybrecht, General Manager, Group Communication & Company
Spokesperson, KBC Group
Tel. 32 2 429 85 45, pressofficekbc(at)kbc.be
www.kbc.com of kunnen verkregen worden door een mail te zenden naar
pressofficekbc(at)kbc.be
* This news item contains information that is subject to the transparency
regulations for listed companies.
KBC_repayment_EN:
http://hugin.info/133947/R/1665707/540473.pdf
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originality of the information contained therein.
Source: KBC Groep via Thomson Reuters ONE
[HUG#1665707]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2012 - 17:46 Uhr
Sprache: Deutsch
News-ID 213488
Anzahl Zeichen: 7621
contact information:
Town:
Brussels
Kategorie:
Business News
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