KBC Group: KBC Asset Management sells Polish entity to PKO Bank Polski Group
(Thomson Reuters ONE) -
Press Release
Outside trading hours - Regulated information*
Brussels, 8 September 2017 (5.45 p.m. CEST)
KBC Asset Management sells Polish entity to PKO Bank Polski Group
KBC Asset Management, which is present in Poland through its 100% subsidiary
KBC TFI, today reached an agreement with PKO Bank Polski (PKO BP), the largest
bank in Poland, for PKO BP to acquire 100% of the shares in KBC TFI through PKO
BP's fully owned subsidiary.
This deal is fully in line with the strategy of the KBC group, which focuses on
retail clients, small and medium sized enterprises and midcaps in its core
markets of Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland.
The deal will have a negligible impact on KBC's results.
Closure of the deal is subject to the approval of the President of the Polish
Competition Authority and the statement of no objections from the Polish
Financial Supervision Commission. The parties involved in the transaction expect
the deal to be finalised in the first quarter of 2018.
In the meantime, KBC TFI will continue to honour its commitments to the market
and to provide professional service of the highest quality level to its clients.
Johan Thijs, KBC Group CEO, commented as follows on the deal: "We welcome
today's agreement with PKO Bank Polski. The deal fits in perfectly with our
strategy. We are convinced that, with the support of its new shareholder, KBC
TFI will be able to successfully continue developing its Polish activities, and
that will also benefit KBC TFI's clients."
Luc Popelier, Chairman of KBC Asset Management added: "This agreement will
result in a win-win situation for both KBC TFI and PKO Bank Polski. KBC TFI has
been a longstanding contributor to the performance of KBC Asset Management and
we are pleased to say that, in PKO Bank Polski, we have found a group that will
ensure continuity for KBC TFI's clients."
Note for the editor:
About KBC TFI (www.kbctfi.pl)
KBC TFI is a member of the KBC group. It was established in 2002, targeting
private and professional clients with a broad range of investment products
through a diverse distribution network of primarily leading Polish banks, but
also insurers, brokers and financial intermediaries. KBC TFI manages local funds
and private mandates, but also distributes foreign funds denominated in PLN.
In 2016, the company's 50 FTEs were managing assets worth over 4.4 billion PLN.
It was voted Best Asset Manager 2015 by Analizy Online, and also obtained two
"Best Fund Awards" in 2015 and 2016.
About KBC (www.kbc.com )
KBC is an integrated multi-channel bank-insurance group, catering mainly for
retail, SME and local midcap clients. It concentrates on its core markets of
Belgium, Bulgaria, the Czech Republic, Hungary, Ireland and Slovakia. Elsewhere
around the globe, the group has established a presence in selected countries and
regions. KBC's headquarters are located in Brussels (Belgium). The group employs
more than 40 000 people and is listed on Euronext Brussels (ticker symbol
'KBC').
About KBC Asset management (www.kbcam.kbc.be )
As fund manager, KBC Asset Management NV has its registered office in Brussels.
Through subsidiaries operating in Luxembourg (KBC Asset Management SA) and
Ireland (KBC Fund Management Ltd.) as specialised asset management competence
centres, KBC Asset Management NV has an important presence in major European
financial markets. The company also runs the KBC Asset Management NV Ireland
Branch in Dublin, Ireland.
KBC Asset Management NV developed its second core market in Central Europe
through asset management companies in Poland (KBC Towarzystwo Funduszy
Inwestycyjnych), the Czech Republic (CSOB Asset Management, a.s., investicní
spolecnost) and Hungary (K&H Alapkezelo Zrt.). It also has a branch office in
Slovakia (KBC Asset Management NV pobocka zahranicnej správcovskej spolocnosti).
All these entities are active in their local markets and provide research and
management services for local investment products. They support the strategic
development of the KBC group in Central European markets.
About PKO BP (www.pkobp.pl)
PKO Bank Polski is the indisputable leader in the Polish banking sector and the
main supplier of financial services for all client segments. For years, it has
been continuously increasing its value for shareholders by generating solid and
stable profits and consolidating market share in key business categories. The
bank's strategy is focused on its clients' needs and developing its business
model in response to the digitisation of social and economic life. The bank
invests in innovative products and organisational solutions and establishes new
market standards. Efficient implementation of its growth strategy made PKO BP
the highest positioned domestic financial company in the Forbes Global 2000
ranking, including the largest listed companies in the world. In 2016, The
Banker magazine - which belongs to the Financial Times Group - awarded PKO Bank
Polski the "Bank of the Year in Poland" prize for the third time.
For more information, please contact:
Wim Allegaert, General Manager, Investor Relations, KBC Group
Tel +32 2 429 50 51 - E-mail: wim.allegaert(at)kbc.be
Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC
Group
Tel +32 2 429 85 45 - E-mail: pressofficekbc(at)kbc.be
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Source: KBC Groep via GlobeNewswire
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