Latest news with #Thijs
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
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.
