2 Octombrie 2009
KBC sells non-core assets from Romania and Bulgaria
Belgian-based financial group KBC said it would continue doing business in Central and Eastern Europe but it might sell a part of its non-core assets in Bulgaria and Romania.
The chief executive of KBC, Jan Vanhevel, said in a presentation posted in the company’s website that the company still intended to keep its operations in Central and Eastern Europe, which is the second largest market for the group.
He added that the risk profile of the countries he operates in – mainly Czech Republic, Poland, Hungary and Slovakia – was lower than in Baltic states, Balkans or former Soviet Union countries where the Belgian group had low exposure.
Thus, the level of non-performing loans in its main markets has risen, but provisioning costs started to stabilize.
According to Reuters, KBC doesn’t plan a capital raise to return the €7bln state aid.
The Belgian group has presented this year to the European Commission a five-year business plan that European authorities could pass by year-end.
He added that the risk profile of the countries he operates in – mainly Czech Republic, Poland, Hungary and Slovakia – was lower than in Baltic states, Balkans or former Soviet Union countries where the Belgian group had low exposure.
Thus, the level of non-performing loans in its main markets has risen, but provisioning costs started to stabilize.
According to Reuters, KBC doesn’t plan a capital raise to return the €7bln state aid.
The Belgian group has presented this year to the European Commission a five-year business plan that European authorities could pass by year-end.