KBC reiterates confidence in bancassurance concept
(Thomson Reuters ONE) - Regulated information * -28 October 2009 (after trading hours)As was the case for many European financial institutions thatreceived state support, KBC has submitted a strategic plan to theEuropean Commission for approval. The plan is currently being talkedthrough with the European Commission in a very open and constructiveway, and good progress has been made. It is expected to be approvedat the latest beginning of December.As already communicated on various occasions since the beginning ofthis year, KBC here reiterates the main elements of its businessplan:* KBC remains convinced of the strength of its integrated bancassurance strategy in Belgium and in its core markets in Central and Eastern Europe. On the other hand, the scope of its international corporate lending and investment banking activities will be significantly reduced. In so doing, KBC will build on its current strongholds, while significantly reducing the risk profile of the group.* The reimbursement of State capital will be predominantly based on internal capital generation (retained earnings, shrinkage and/or divestment of non-core activities), while raising capital by issuing shares is not a preferred scenario.* The business plan will allow KBC to maintain its solid solvency levels.KBC will communicate details of the plan once it has been fullyevaluated by the European Commission.* This news item contains information that is subject to thetransparency regulations for listed companies.http://hugin.info/133947/R/1350977/326268.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 19:30 Uhr
Sprache: Deutsch
News-ID 7566
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