Latest news with #JohanThijs
Reuters
15-05-2025
- Business
- Reuters
KBC to buy Slovakia's 365.bank in deal valuing it at 761 million euros
May 15 (Reuters) - Belgian bank KBC Groep ( opens new tab said on Thursday it has reached a cash agreement to acquire 98.45% of in a deal valuing the Slovakia-based lender at 761 million euros ($852 million). KBC said the acquisition will help strengthen its presence in Slovakia and the Central and Eastern Europe region, and is its biggest deal since it acquired Raiffeisen Bank's ( opens new tab Bulgarian operations in the summer of 2022. "Our goal has always been and remains to strengthen our presence in Central and Eastern Europe ... Through this acquisition, we strengthen our geographical diversification (and) we continue to build market leadership in Slovakia," KBC CEO Johan Thijs said in a statement. Thijs had told Reuters in February that he was keen to expand KBC's business in this area. The offer represented a 1.4 multiple of book value by December 2024 and is expected to be finalised by the end of the year, pending regulatory approval, KBC said. The deal would push ČSOB, KBC's wholly-owned subsidiary and the largest bank by assets in neighbouring Czech Republic, to a market share in Slovakia of around 16%. The transaction would have an effect of about 50 basis points on KBC's common equity tier-1 ratio, which stood at 14.5% in the first quarter as the bank reiterated its ambition to be amongst the best-capitalised financial institutions in Europe. ($1 = 0.8935 euros)
Reuters
15-05-2025
- Business
- Reuters
Belgian bank KBC first-quarter profit beats estimates
May 15 (Reuters) - Belgian bank KBC Group ( opens new tab reported a 8% rise in first-quarter net profit that came above market expectations on Thursday, driven by solid revenue from net interest, fee and commissions, and its insurance business. Its profit reached 546 million euros ($611.30 million) in the quarter, beating analysts' average estimate of 529 million euros in a poll compiled by the lender. The bank updated its dividend and capital deployment policy, stating that it plans to pay a dividend corresponding to 50% to 60% of its consolidated earnings, with an interim dividend of one euro per share to be paid this November. "The focus will predominantly be on further organic growth alongside mergers and acquisitions. We see a 13% unfloored fully loaded common equity ratio as the minimum", Johan Thijs, CEO of KBC said in a statement, referring to the outlook for capital deployment. At end of the quarter the ratio came at 14.5%. The bank has also announced a signing agreement to buy Slovak lender for 761 million euros. ($1 = 0.8932 euros)
Yahoo
15-05-2025
- Business
- Yahoo
J&T Finance Group and KBC announce strategic acquisition of 365.bank by KBC, expanding its presence in Slovakia and Central and Eastern Europe
On May 14, J&T Finance Group SE, based in the Czech Republic and the majority shareholder of a.s. and KBC Bank NV reached an agreement for KBC to acquire a 98.45% stake in (in cash), based on a total value for of EUR 761 million. The transaction is subject to relevant regulatory and anti-trust approvals and is expected to close by the end of this year. a commercial bank in Slovakia, holds a 3.7% market share by assets as of December 20241 with a notable strength in retail banking. Acquiring would strengthen KBC in Slovakia ensuring KBC's reference status across all Central and Eastern European countries of presence. The transaction price represents a 1.4x multiple of the December 2024 book value of and a 9.4x P/E based on the average net profit of from 2022 to 2024. The transaction price is subject to limited closing adjustments. This transaction price accurately reflects the quality of including its client base, employee professionalism, profitability, and potential synergies. The acquisition will have a limited impact on KBC's capital position (approximately -50 basis points on KBC's unfloored fully loaded CET-1 ratio) upon closing, which remains very solid keeping KBC's CET1 ratio well above regulatory minimum capital requirements. Completion of the transaction is subject to regulatory and anti-trust approval and is expected by the end of 2025. Pending such approval of the closure of the deal and the post-completion integration of the entities into KBC's Slovakian operations, will continue to honour its commitments to the market while continuing to provide professional service of the highest quality to its customers. The combination of ČSOB and will establish a strong banking group in Slovakia, whereby unique distribution model, supported by its long-standing partnership with Slovak Post, will allow KBC to significantly expand ČSOB's customers reach across Slovakia. The acquisition of will boost the scale of mainly retail operations, commanding (as of December 2024) an approximately 20% market share in both net retail loans and mortgages1. Based on the group bank-insurance model, other entities of the ČSOB Financial Group, will also benefit from the acquisition through the cross-selling of products and services to retail customer base. Johan Thijs, CEO of KBC Group, said: "Our goal has always been and remains to strengthen our presence in Central and Eastern Europe. In Slovakia, which is one of our key markets, KBC has been growing steadily through both organic growth and acquisitions over the last 20 years. We are known for being innovative and stable, and we aim to provide our customers with safe, reliable, and personalized financial services. Today, we are proud to announce the acquisition of in Slovakia. Through this acquisition, we strengthen our geographical diversification, we continue to build market leadership in Slovakia and boost our profitability. By combining our local ČSOB entities with we can offer even better customer service with innovative products and digital solutions alongside personalized service. We look forward to building the future for our customers and employees in Slovakia." Peter Andronov, CEO of KBC Group's International Markets Business Unit added: 'In Slovakia, much like in other CEE countries where KBC is present, we are actively exploring sizeable synergies and integrated operations of our various financial entities. We cooperate actively and systematically within the region and the group, allowing our Slovak team to implement the best practices, technologies, and processes for our customers' benefit. We are looking forward anxiously to welcome the customers and staff of to the big family of KBC Group soon.' Daniel Kollár, CEO of ČSOB Bank Slovakia and country manager noted: 'It is not so long ago that we merged with OTP Bank Slovakia and less than two decades ago with Istrobanka. This, the third bank acquisition in a row, means for us a future join with a significant player that is largely shaping the Slovak banking market with an emphasis on customer orientation and innovative solutions. This is fully in line with our strategy of bringing solutions with the goal of being relevant to the everyday lives of customers in the digital era. I am glad that we will be able to introduce our smart world to an even wider group of customers and today is a day that underlines our efforts. I am convinced that a combination of ČSOB and will benefit not only the customers of both companies but will also bring an opportunity for colleagues from both companies to participate in the successful projects that are ahead of us.' Patrik Tkáč, co-founder of J&T Finance Group SE, the majority shareholder of states: 'Since 2013, when (formerly Postal bank) became part of our banking group, it has undergone a significant transformation. Today, it stands as a stable, fully digital, and modern retail bank with an irreplaceable position in the Slovak market. We hold deep appreciation for all of its employees and clients, which is why the future of the bank remains of the utmost importance to us. ČSOB Bank and its parent company, KBC Group, are our long-standing and trusted business partners. For this reason, I am confident that we are passing the bank into the right hands. I firmly believe that the sale of will, in time, be well understood in the context of JTFG Group's substantial development plans.' Andrej Zaťko, CEO and co-owner of adds: ' and Postal bank carry with them a legacy of both deep history and modern transformation. This is a story of change and renewal within the banking sector—one that is truly without precedent in our region—and it is only natural that it attracted the attention of international investors. Since its inception, has quickly emerged as a true challenger in the Slovak banking market. Today, the bank is delivering the strongest results in its history and continues on a growth trajectory. Throughout this period, we have brought fresh energy into the market, led important innovations, and helped intensify competition—enabling our clients to benefit from attractive products and services. The acquisition by KBC Group opens up a new horizon of opportunities for the bank and its clients, backed by a robust and experienced shareholder base.' About is a retail-exposed bank with strong financial profile and a unique distribution network. is a commercial bank with full range of products and particularly strong focus on retail customers. was first introduced in 2018 as fully digital bank and in 2021 it was combined with Postal bank, taking over its portfolios and branches throughout Slovakia. Currently, bank operates as a universal bank offering wide range of services and products to individuals as well as for corporates under two brands ( and Postal bank) with different distribution models and client base for both operations. is digital bank that caters to younger, urban mass/affluent segment, focusing on digital banking via mobile and online platforms, serving as the primary channel for new client acquisition. Postal bank targets mass and low mass customer segments in all towns with over 1,500 residents and benefits from long-standing cooperation with Slovak Post to distribute banking products through >1,400 points of sale in total. As of Dec-24, had total assets of €4.7bn and shareholders' equity of €551mm, as well as a headcount of 1,292 employees, serving ~830k customers via 57 branches of 105 sales points of Postal bank in Slovak Post branches and >1,300 sales points in each branch of Slovak Post. About KBC's presence in Slovakia Belgium-based KBC Bank NV is the parent company and sole shareholder of Československá obchodná banka (ČSOB). ČSOB is a leading Slovak bank boasting over 50 years of tradition. It is one of the most significant and strongest banking entities on the Slovak market. As a universal bank, it provides services to all customer segments, i.e. retail, the self-employed, SMEs, corporate customers, as well as institutional and private clients. The bank is a member of the ČSOB Financial group, which also includes ČSOB Leasing, ČSOB Advisory, ČSOB Real, and ČSOB Nadácia (foundation). ČSOB Poisťovňa (insurance company) is an affiliate of Č acquisition of aligns with KBC's strategic focus on both organic and inorganic growth in Slovakia, as evidenced by the acquisition of Slovak OTP Bank in 2021. About J&T Group The J&T Finance Group focuses on providing comprehensive services related to private banking, retail banking, asset management for private clients and institutions, investment banking and project financing. It also provides services in the areas of administration, human resources, accounting, consolidation and tax consultancy. It develops its services primarily in the markets of the Czech and Slovak Republics, Croatia and Germany. More information at For more information, please contact: Kurt De Baenst, General Manager, Investor Relations, KBC GroupTel. + 32 2 429 35 73 - IR4U@ Katleen Dewaele, General Manager, Corporate Communications, KBC GroupTel. +32 475 78 08 66 – pressofficekbc@ Source: Company information, National bank of SlovakiaAttachment 20250515-365-bank-sk-enError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
13-02-2025
- Business
- Reuters
KBC considering acquisitions in Central and Eastern Europe, CEO says
Feb 13 (Reuters) - Belgium's largest bank KBC ( opens new tab is considering acquisitions in Central European markets, including Romania, CEO Johan Thijs told Reuters on Thursday. The lender, which is already active in the Czech Republic, Hungary, Slovakia and Bulgaria, is looking into opportunities in both the banking and insurance segments, Thijs said. "We are definitely looking into possibilities on the M&A front," Thijs said in an interview. "If tomorrow one or the other bank or insurance company is available, we will definitely have a look." "If something (becomes) available in Romania, we would be interested as well." He said the bank has a shortlist of potential targets, but declined to give further details. Thijs said the bank is also interested in buying state-owned Belgian insurer Ethias - whose potential sale has long been a point of political contention between its joint owners, the Flemish, Walloon and federal states - "when they become available". The bank's Central European units helped it achieve strong results in 2024, accounting for almost 50% of annual net earnings. Europe's banking sector is seeing broader consolidation, with Spain's BBVA ( opens new tab pursuing smaller rival Sabadell ( opens new tab, Commerzbank ( opens new tab fending off advances from Italy's UniCredit ( opens new tab, and Dutch ING Groep ( opens new tab exploring takeover options in Germany, Italy and Spain. The KBC chief called on Europe to reconsider banking regulation, referencing President Donald Trump's promises to deregulate the U.S. banking sector. "One good thing about the behaviour of Mr. Trump is that it might cause the European institutions to reconsider their positions (on a European Banking Union)", he said. "I don't believe in a sector which is fully self-regulated... (but) the pendulum has swung too far," he said.
