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Showing results for KBC Asset Managment NV
...Managment Hermes Equity Ownership Services HSBC Global Asset Management Ltd....
...KBC, one of the largest Belgian banks by assets, reported that loan volumes in Belgium rose 2 per cent in the second quarter of 2014 from the previous quarter....
...KBC said its Hungarian sovereign bond holdings were the biggest factor in the increase in its risk-weighted assets....
...Dutch insurer Aegon fell 4.1 per cent to €5.50 as KBC Securities reinitiated coverage with a “reduce” rating and €5 target price....
...Nevertheless, Monday’s share sale should help the Belgian bank maintain a capital ratio of 10 per cent of risk-weighted assets in-line with the latest Basel III rules....
...Alexander Pelteshki, an analyst at ING, said: “Asset quality still remains a major issue for [UniCredit], in our view....
...Kredyt Bank has assets of 43bn zlotys and a market capitalisation of 3.3bn zlotys....
...In the past it has sold assets and shares in subsidiaries (hence its retention of Zachodni’s listing)....
...Insurer Ageas jumped 10.7 per cent to €1.61 after it completed a share buy-back ahead of schedule, while KBC gained 9.7 per cent to €15.44....
...“Overall, the shareholder seems completely wiped out,” he wrote in a note, notwithstanding a rapid recovery of the assets on Dexia’s books....
...Austria’s Raiffeisen Bank International and Erste Group have built up large presences, alongside Belgium’s KBC, and Italy’s Intesa Sanpaolo and UniCredit....
...Belgium’s KBC Group slid 4 per cent to €14.66, extending last week’s 11.6 per cent decline after a rally in the previous session....
...But the overall bright picture was dimmed by writedowns of €139m on €500m of Greek debt holdings, which pushed up asset impairments to €333m before tax, up from €105m last quarter....
...As Europe’s debt crisis has mounted, Russian investors have moved back into their old stomping grounds, buying up the assets that western companies can no longer afford to keep....
...Bankers believe that the planned sale of the Luxembourg unit of struggling lender Dexia to Qatari investors, as well as the sale by Belgium’s KBC of its Luxembourg private banking unit to Precision Capital...
...KBC said it would receive a €700m capital boost. KBL has assets under management of €47bn....
...In relative terms, compared with the banks’ market value, the capital shortfall is most dramatic for Belgium’s KBC, Germany’s Commerzbank and Italy’s Unicredit....
...Now Santander has offered to buy Kredyt Bank, a unit of Belgium’s KBC, which needs to repay a Belgian government bail-out....
...KBC was one of the few gainers, on news that Spain’s Banco Santander had made a preliminary offer for some of its Polish assets. The Belgian financial services group climbed 2.6 per cent to €16.70....
...“The debt crisis in the euro area has had a severe impact on central Europe,” says Christophe Wuyts, economist at KBC Global Services NV....
...Divestments and the upward revaluation of toxic assets helped KBC beat earnings estimates in the last three months of 2010, a year in which it returned to profitability after two years of large losses....
...But Belgian banking and insurance group KBC beat forecasts with a 22 per cent rise in underlying first-quarter net profit, rising 2.3 per cent to €28.56....
...assets by €4.2bn....
...The EU-led bail-out agreed for Ireland was likely to reduce the risk of default, but KBC said it now expected an accelerated restructuring of Irish banks that would have a negative effect on asset valuations...
...This forced the bank to draw up a restructuring plan, under which it will sell assets, pull out of “non-strategic” markets and narrow its range of products and services....
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