KBC: loan portfolio disposal and share cancellation
(CercleFinance.com) - After publishing its interim results, KBC says that its subsidiary KBC Bank Ireland has reached an agreement with Goldman Sachs on the sale of a "legacy" and "buy-to-let" loan portfolio for approximately 1.
9 billion euros.
The transaction is expected to have add 14 million euros to its P&L and will free up a risk-weighted asset volume of some 0.4 billion euros for KBC group. It will improve its CET1 ratio by seven basis points. The deal is scheduled for Q4.
In addition to this announcement, KBC says that it will cancel 2.7 million of its shares, as decided on by its board of directors on 8 August, under the mandate conferred by its AGM of 3 May.
As a result, the Belgian bank will reduce the number of shares conferring voting rights and the total number of voting rights from 418,597,567 to 415,897,567, with its capital remaining unchanged at 1,456,074,585.67 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
9 billion euros.
The transaction is expected to have add 14 million euros to its P&L and will free up a risk-weighted asset volume of some 0.4 billion euros for KBC group. It will improve its CET1 ratio by seven basis points. The deal is scheduled for Q4.
In addition to this announcement, KBC says that it will cancel 2.7 million of its shares, as decided on by its board of directors on 8 August, under the mandate conferred by its AGM of 3 May.
As a result, the Belgian bank will reduce the number of shares conferring voting rights and the total number of voting rights from 418,597,567 to 415,897,567, with its capital remaining unchanged at 1,456,074,585.67 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.