KBC: acquisition of UBB and Interlease complete.
(CercleFinance.com) - KBC announces that it has completed the purchase of United Bulgarian Bank and Interlease from the National Bank of Greece for a total of 610 million euros, 1.
1 times the tangible book value of UBB and Interlease in 2016.
The acquisition, announced on 30 December 2016, received the green light from regulatory and antitrust authorities. The Belgian financial institution will draw on its available liquidity to pay the acquisition price in cash.
The transaction will only have a 0.54% impact on KBC's capital position. KBC's CET1 ratio will remain comfortably over the regulatory minimum capital requirements. Its CET1 was 15.7% at the end of Q1 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
1 times the tangible book value of UBB and Interlease in 2016.
The acquisition, announced on 30 December 2016, received the green light from regulatory and antitrust authorities. The Belgian financial institution will draw on its available liquidity to pay the acquisition price in cash.
The transaction will only have a 0.54% impact on KBC's capital position. KBC's CET1 ratio will remain comfortably over the regulatory minimum capital requirements. Its CET1 was 15.7% at the end of Q1 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.