KBC Group: First-quarter result of 557 million euros
Outside trading hours - Regulated information*
Brussels, 11 May 2021 (07.00 a.m. CEST)
KBC Group: First-quarter result of 557 million euros
Light is starting to appear at the end of the tunnel thanks to the large-scale vaccination rollout that started in the first quarter of 2021. However, the coronavirus pandemic is still far from over and continues to cause human suffering and unprecedented economic upheaval all over the world. From the start of the crisis more than a year ago, we have taken responsibility in safeguarding the health of our staff and customers, while ensuring that services continue to be provided. We have also worked closely with government agencies to support all customers impacted by coronavirus, implementing various measures such as loan deferrals. We have, for example, granted payment holidays for 13.1 billion euros’ worth of loans under coronavirus-related moratoria (according to the EBA definition). For 91% of that figure, the moratoria have now expired, with 98% of loans resuming normal payments. We have also granted almost 1 billion euros’ worth of loans under public guarantee schemes introduced in response to the pandemic.
Meanwhile, we continued to work tirelessly on implementing our strategy, including the further optimisation of our geographic presence. In the first quarter of 2021, we reached an agreement for the acquisition of NN’s Bulgarian pension insurance and life insurance businesses. This will allow us to further increase our share of the life insurance market in Bulgaria and to broaden our bank-insurance offering to customers with the addition of high-end pension fund products, while also providing additional cross-selling opportunities for banking and insurance products in a one-stop shop approach. Closure of the deal is subject to regulatory approval and is expected to be finalised in the course of 2021. More recently, in the context of the competitive market conditions in Ireland, we entered into a Memorandum of Understanding with Bank of Ireland that could lead to a transaction where Bank of Ireland commits to acquire substantially all of KBC Bank Ireland's performing loan assets and liabilities. In addition, we are examining our options for divesting KBC Bank Ireland's portfolio of non-performing mortgage loans. Successful completion of both transactions may ultimately result in our withdrawal from the Irish market. While these discussions are ongoing, KBC Bank Ireland remains committed to offering its existing and new customers retail banking and insurance services of the highest standard through its digital channels and hubs. The transaction remains subject to customary due diligence, further negotiation and agreement of final terms and binding documentation, as well as obtaining all appropriate internal and external regulatory approvals.
As regards our financial results, the year got off to a strong start with a net profit of 557 million euros being posted in the quarter under review. This is a very good performance given that the bulk of bank taxes for the full year are recorded – as always – upfront in the first quarter of the year. In the quarter under review, nearly all income items increased, apart from dividend income. Costs – excluding bank taxes – continued to be strictly managed, resulting in a quarter-on-quarter decrease of 5%. We were also able to reverse some of the loan loss impairment charges taken previously, which had a positive impact on our net result. Our solvency position remained very strong with a common equity ratio of 17.6% on a fully loaded basis.
As announced earlier, we will pay out a gross dividend of 0.44 euros per share on 19 May 2021 for financial year 2020. It is also the intention of our Board of Directors to distribute an additional gross dividend of 2 euros per share in the fourth quarter of 2021 for financial year 2020.The final decision of the Board in this regard is subject to restrictions on dividends being lifted by the ECB.
In closing, I would like to take this opportunity to thank all stakeholders who have continued to put their trust in us. I also wish to express my appreciation to all our staff who have not only continued to serve our customers, but have also ensured that our group has been able to operate solidly and efficiently in these challenging times.
Chief Executive Officer
Full press release attached
AttachmentsTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Klövern ansöker om avnotering av bolagets aktier och utser ny VD24.6.2021 16:18:32 CEST | Pressemelding
Styrelsen i Klövern AB (publ) (”Klövern”) ansöker om avnotering av Klöverns aktier från Nasdaq Stockholm. Eva Landén har utsetts till ny VD för Klövern. Corem Property Group AB (publ) (”Corem”) lämnade den 29 mars 2021 ett offentligt uppköpserbjudande till aktieägarna i Klövern. Corem förklarade erbjudandet ovillkorat den 15 juni 2021. Corem kontrollerar per dagens datum cirka 95,0 procent av de utestående aktierna i Klövern och avser att påkalla tvångsinlösen av resterande aktier. Corem har även förlängt acceptperioden för erbjudandet till och med den 18 augusti 2021. Mot bakgrund av ovanstående, och på begäran av Corem, har styrelsen för Klövern beslutat att ansöka om avnotering av bolagets aktier från Nasdaq Stockholm. Sista dag för handel i Klöverns aktier vid Nasdaq Stockholm kommer att meddelas så snart Klövern erhållit besked om detta från Nasdaq Stockholm. På begäran av Corem har styrelsen i Klövern vidare utsett Eva Landén till ny VD för Klövern. Eva Landén är VD för Corem och
Klövern applies for delisting of the company’s shares and appoints new CEO24.6.2021 16:18:32 CEST | Press release
The Board of Directors of Klövern AB (publ) (”Klövern”) applies for delisting ofKlövern’sshares from Nasdaq Stockholm. Eva Landén has been appointed new CEO of Klövern. On 29 March 2021, Corem Property Group AB (publ) (”Corem”) announced a public offer to the shareholders of Klövern. Corem declared the offer unconditional on 15 June 2021. As of today, Corem controls approximately 95.0 percent of the outstanding shares in Klövern and intends to apply for compulsory redemption of the remaining shares. Corem has also extended the acceptance period för the offer to 18 August 2021. In light of the above, and at the request of Corem, the Board of Directors of Klövern has decided to apply for delisting of the company’s shares from Nasdaq Stockholm. The last day of trading in Klövern's shares will be announced as soon as Klövern has been informed thereof by Nasdaq Stockholm. Further, at the request of Corem, the Board of Directors of Klövern has appointed Eva Landén as new CEO of Klövern. Eva
Lantronix Announces SmartEdge Partner Program Award Winners24.6.2021 13:00:00 CEST | Press release
SmartEdge Partner Program Winners Are Tech Data, SHI, Presidio, Atlantik, Arki, Data Equipment, Acromax, Rahi System India and Enthu Technology Sdn. Bhd. IRVINE, Calif., June 24, 2021 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM) offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware, today announced the winners of its SmartEdge™ Partner Program Awards. The awards were given at Lantronix’s 2021 SmartEdge Partner Summit held virtually on June 23, 2021. Lantronix’s SmartEdge Partner Program Awards were given to winners in three categories: Distribution Partner, StrategicEdge Partner and Edge Partner covering three regions: North America, Europe/Middle East/Africa and Asia Pacific. The winners are: North America North America Distributor Partner of the Year: Tech Data North America StrategicEdge Partner of the Year
CONDITIONS FOR RIKSBANK BID PROCEDURE KOMMUNINVEST BONDS24.6.2021 12:05:00 CEST | Press release
Bid procedure, 2021-06-29BondsKOMMUNINVEST I SVERIGE: 2302. SE0009662943. 2023-02-22 KOMMUNINVEST I SVERIGE: 2410, SE0010469205, 2024-10-02 KOMMUNINVEST I SVERIGE: 2602, SE0013745452, 2026-02-04 BidsBids on interest and volume are entered via Bloomberg Bond Auction SystemBid date2021-06-29Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)2302: 500 mln SEK +/-250 mln SEK 2410: 500 mln SEK +/-250 mln SEK 2602: 1000 mln SEK +/-500 mln SEK Highest permitted bid volume (corresponding nominal amount)2302: 500 mln SEK per bid 2410: 500 mln SEK per bid 2602: 1000 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 11.15 (CET/CEST) on the Bid dateDelivery and payment date2021-07-01Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383General Terms and ConditionsGeneral Terms and Conditions General Terms and Condition
CONDITIONS FOR THE RIKSBANK´S PURCHASES OF COMMERCIAL PAPER24.6.2021 12:05:00 CEST | Press release
Bid procedure, 2021-06-30CertificateCommercial paper issued in SEK by non-financial companies with their registered office in Sweden and with a remaining maturity of up to six months on the Bid date. i.e. with the latest maturity date as of 2021-12-30 Delivery may not be made in commercial paper purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Special terms, i.e. the purchase may not have been made after 2021-06-17 BidsCounterparties may make one bid per Credit rating class and maturity class. Bids are made to tel 08-696 69 70 and confirmed by e-mail to EOL@riksbank.se.Bid date2021-06-30Bid times09.00-09.30 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SEK 4 billionHighest permitted bid volume (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed SEK 4 billion. No bid may contain Commercial paper in excess of SEK 250 million issued by the s
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS24.6.2021 12:05:00 CEST | Press release
Bid procedure, 2021-07-02BondsSWEDISH GOVERNMENT: 1062. SE0013935319. 2031-05-12 SWEDISH GOVERNMENT: 1063, SE0015193313, 2045-11-24 KINGDOM OF SWEDEN: REGS (GREEN), XS2226974504, 2030-09-09 Bid date2021-07-02Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)1062: 500 mln SEK +/-250 mln SEK 1063: 500 mln SEK +/-250 mln SEK REGS (GREEN): 250 mln SEK +/-250 mln SEK Highest permitted bid volume (corresponding nominal amount)1062: 500 mln SEK per bid 1063: 500 mln SEK per bid REGS (GREEN): 250 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2021-07-06Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2021-06-24 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS24.6.2021 12:05:00 CEST | Press release
Bid procedure, 2021-07-01BondsSWEDBANK HYPOTEK AB: 196. SE0015244991. 2026-03-18 STADSHYPOTEK AB: 1591, SE0013882644, 2026-06-01 SWEDISH COVERED BOND: 147, SE0009383664, 2026-06-17 SKANDINAVISKA ENSKILDA: 580, SE0013101722, 2025-12-17 LANSFORSAKRINGAR HYPOTEK: 521, SE0015503446, 2028-09-20 DANSKE HYPOTEK AB: 2212, SE0010297085, 2022-12-21 NORDEA HYPOTEK AB: 5536, SE0013358439, 2026-09-16 Bid date2021-07-01Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)196: 400 mln SEK +/-200 mln SEK 1591: 1900 mln SEK +/-950 mln SEK 147: 700 mln SEK +/-350 mln SEK 580: 500 mln SEK +/-250 mln SEK 521: 600 mln SEK +/-300 mln SEK 2212: 500 mln SEK +/-250 mln SEK 5536: 400 mln SEK +/-200 mln SEK Highest permitted bid volume (corresponding nominal amount)196: 400 mln SEK per bid 1591: 1900 mln SEK per bid 147: 700 mln SEK per bid 580: 500 mln SEK per bid 521: 600 mln SEK per bid 2212: 500 mln SEK per bid 5536: 400 mln SEK per bid Lowest permitted bid volume (co