KBC Bank NV (KBC, LuxSE: KBC, Euronext: KBC) Is A Belgian-based Bank Founded In 1889 With Branches Around The World. On July 7, 2010, The Investment Bank Of Daiwa Securities Group Paid $1 Billion For KBC Group's Derivatives Including Asian Equity Derivatives And Global Convertible Shares.
History
Catholic People's Bank Of Leuven, Founded In 1889, Was One Of The Earliest Predecessors Of KBC Bank. Another Predecessor Was Bremer Vorschussverein, Founded In 1889 And Later Changed To Bankverein Bremen AG. In 1935, Algemeene Bankvereeniging And Volksbank Van Leuven Merged With Bank Voor Handel En Nijverheid To Form The Kretrietbank. The Kretrietbank Would Be The Only Belgian Financial Institution Group Under Flemish Control, Which Would Survive The Financial Crisis Of The Great Depression Of The 1930s. Fernand Collin, Who Became President In 1938, Conceived The Business Strategy That Led To The Development Of The Bank. He Defined The Kretrietbank As An Independent Bank With Distinctly Flemish Characteristics, Which Would Serve As An Instrument For Promoting Flemish Economic Growth.
During The Second World War, The Bank Was Able To Expand Its Activities And Increase Deposits From The Flemish Middle Class. After The War, Kretrietbank, Now The Third Largest Bank In Belgium, Was Able To Increase The Number Of Branches In Flanders Due To The Economic Recovery. The Bank's Post-war Growth Strategy Emphasized External Expansion And The Development Of Portfolio Management Services For Investors. The Bank Expanded Into Luxembourg In 1949 Through Kretrietbank S.A. Luxembourgeoise And Into The Wallonia Region In 1961 Through The Establishment Of Crédit Général De Belgique.
Kretrietbank Also Expanded Into The Belgian Congo. It Established A Branch In Léopoldville In 1952. Then In 1954 It Acquired The Congo Industrial And Commercial Bank And Renamed It Banque Congolaise De Crédit, Eventually Having Four Branches, One Each In Léopoldville, Bukavu, Élisabethville And Stanleyville. Due To The Situation That Arose After The Independence Of The Belgian Congo In 1960, The Bank Ceased Its Operations In The Congo In 1966.
During The 1960s, Driven By Increasing Competition, The Bank Worked To Expand Its Branch Network And Improve Consumer Services. In 1966, The Bank Began To Establish A Network Of Foreign Correspondents And Established Foreign Branches In A Number Of Countries. In 1970, Along With Six Other European Institutions, Kretrietbank Established The Inter-Alpha Banking Group. Since 1982, Kretrietbank N.V. Bruxelles Has Acquired A Stake In The Main Part From Bankverein Bremen AG. The Bremen Branch Was Renamed Kredietbank-Bankverein AG In 1990.
In 1998, Kretrietbank Merged With ABB-insurance (Assurances Du Boerenbond Belge) And CERA (Centrale Raiffeisenkas), Two Financial Institution Groups Originating From Boerenbond (Vlaanderen) (E: Belgian Catholic Farmers Association), To Form KBC Bank And Insurance Holding Company. Since Then, The Group Has Significantly Expanded Its Activities, Mainly In Central And Eastern Europe. In 2005, KBC Achieved Another Milestone By Merging With Parent Company Almanij And Renaming Itself KBC Group NV.
Over The Past 20 Years, KBC Has Built A Strong Presence In Many Countries That Joined The European Union On May 1, 2004. Recently (2007), KBC Made Acquisitions In Bulgaria (DZI Insurance, DZI Invest And EIBANK), Romania (KBC Securities Romania, Romstal Leasing And INK Insurance Broker), Russia (Absolut Bank), Serbia (KBC Bank And Senzal, Became KBC Securities AD Beograd, Hipobroker, Became KBC Broker, Bastion, Became KBC Securities Corporate Finance) And Slovakia (Istrobanka). In 2017, KBC Acquired UBB And Interlease In Bulgaria.
After Receiving Government Support During The Financial Crisis, The Bank Began A Divestment Program To Meet The Requirements Of The European Union Commission. As A Result, It Sold Several Subsidiaries, Including Centea, Fidea, Kredyt Bank, ADB, KBC Germany, Absolut Bank And KBL Epb (Kretriet Bank Luxembourgeoise), Its Network Of European Private Banking Subsidiaries. The Divestment Was Scheduled To Be Completed In 2014, With State Aid Repaid In Full By 2015, Five Years Ahead Of The Agreed Time.
The Group Is Now Focused On Its Six Core Countries: Belgium, Czech Republic, Slovakia, Hungary, Bulgaria And Ireland.
In December 2016, KBC Announced That It Would Acquire United Bulgarian Bank, Making KBC The Largest Bank-insurance Group In The Country. In February 2017, Ireland Was Defined As A New Core Market For The KBC Group.
In April 2021, KBC Negotiated With Bank Of Ireland To Sell Its Performing Loan Book And Announced Its Intention To Withdraw From Ireland.
