trending Market Intelligence /marketintelligence/en/news-insights/trending/zzomimjheyxzz8cpakskgq2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

KBC Group to acquire 2 National Bank of Greece units for more than €600M

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next

Corporate Renewables Market Looks To Continue Growth After Record 2018

Reframing The Conversation Around Cyber Risk


KBC Group to acquire 2 National Bank of Greece units for more than €600M

KBC Group NV agreed to acquire 99.9% of United Bulgarian Bank AD from National Bank of Greece SA and the entire shareholding of Interlease, Bulgaria's third-largest provider of leasing services, for a total consideration of €610 million.

Prior to the transaction — which will have a negative impact of 54 basis points on the capital position of KBC Group upon completion — United Bulgarian Bank intends to make a €183 million extraordinary dividend payment to its current parent, subject to regulatory approval. The purchase price, to be paid in cash by utilizing internal sources/available funds, reflects the extraordinary dividend.

KBC Group is already present in Bulgaria through CIBANK AD and insurer DZI Insurance. After the United Bulgarian Bank acquisition, KBC will own the country's third-largest banking group in terms of assets, with a market share of about 11%, and the largest bank-insurance group.

The acquisitions are expected to close in the second quarter of 2017 at the latest, subject to regulatory approvals.