KBC: economic impact of pandemic 'still uncertain'
(CercleFinance.com) - With the economic impact of the corona-pandemic on the Belgian economy "still uncertain," KBC is unable to provide a detailed assessment of its financial impact, the Belgian bancassurance group said on Monday.
The current economic challenges ahead will "undoubtedly" have an impact on credit losses in the coming years, the bank said, while expressing confidence that the Belgian economy "will be able to overcome the critical period."
In its statement, KBC said it has a "very solid" solvency and liquidity position, with "significant buffers" to absorb credit losses.
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The current economic challenges ahead will "undoubtedly" have an impact on credit losses in the coming years, the bank said, while expressing confidence that the Belgian economy "will be able to overcome the critical period."
In its statement, KBC said it has a "very solid" solvency and liquidity position, with "significant buffers" to absorb credit losses.
Copyright (c) 2020 CercleFinance.com. All rights reserved.