KBC Banque & Assurance est un groupe financier indépendant aux racines flamandes, d'envergure internationale et, surtout, animée par un concept unique où banquiers et assureurs se donnent la main.
KBC Bancassurance Holding figure parmi les 1ers groupes bancaires belges

22/02/07 KBC : Final quarter (634 million euros) continued to benefit from robust revenue momentum
KBC closed the fourth quarter of 2006 with a net profit of 634 million euros. This brought the result for the 2006 financial year to 3 430 million euros, corresponding with a return on equity of 24%. Underlying profit, i.e. profit excluding items not relating to the normal course of business, came to 2 548 million euros; the corresponding return on equity to 18%. 
According to André Bergen, Group CEO, 'KBC's business model developed positively in many areas during the past year. Business volumes were robust, while cost and risk levels remained under control. Although we benefited from a generally favourable environment, the group also proved to be in very good shape. We are therefore confident that we will deliver on our growth and return targets.'
Financial highlights - 4Q 2006
During the final quarter of 2006, customer loan growth accelerated, especially in Central Eastern Europe. The customer loan book expanded by 4% (+9% in Central Eastern Europe), bringing the year-to-date increase to 14% (26% in Central Eastern Europe). The outstanding volume of mortgages grew during the quarter by 4% (3% in Belgium and 11% in Central Eastern Europe).
After a traditionally weak third quarter, fee and commission income recovered strongly, driven by robust sales of retail mutual funds, and almost reached the exceptionally high level achieved in the last quarter of 2005, which had been underpinned by strong tax-driven sales in Belgium.
Capital market revenues were buoyant. On an underlying basis, net gains from financial instruments at fair value (mostly institutional trading profit) were 91% higher compared with the previous quarter.
The quarter also benefited from the divestment gain of 60 million euros from the sale - in Belgium - of the stake in Banksys/Bank Card Company.
As expected, and in line with the usual seasonal cost pattern, operating expenses were up significantly compared with the previous quarter. Among other factors, the stronger results from the capital market activities were a major driver behind the 5% underlying cost increase on the last quarter of 2005.
Impairment on loans (102 million euros) was higher than in previous quarters, chiefly in Hungary where loan provisioning  was tightened given the more difficult local economic environment. Overall loan quality nevertheless remained sound (the non-performing-loan ratio for the group decreased to 1.6% from 1.8% at the beginning of the quarter).
Developments in 1Q 2007
According to Andre Bergen, Group CEO, 'Even though our insurance business had to weather the Kyrill storm, with its negative net impact of around 28 million euros, January was a good month. Moreover, we realised a capital gain of 200 million euros following the sale of our small, non-strategic holding in Intesa Sanpaolo.' Up to 15 February, 1.6 million shares had already been bought back for an amount of 155 million euros as part of the 2007 share buyback programme.

23/11/06 KBC : Third quarter of 2006: net profit of 1 081 million euros (574 million euros on an underlying basis
KBC closed the third quarter of 2006 with a net profit of 1 081 million euros (which included an 0.5-billion-euro divestment gain). The underlying profit for the quarter came to 574 million euros. According to André Bergen, Group CEO, 'We are again very satisfied with our performance. Despite the normal seasonal trends, business volumes remained solid. Moreover, the interest margin increased and credit risk was, once again, low.' Profit for the first nine months of the year amounted to 2 797 million euros, representing an increase of 59% (underlying +15%) and a return on equity of 26% (underlying 19%). 
Financial highlights - 3Q 2006
The third quarter result benefited from a one-off gain of 0.5 billion euros, net, on the divestment from Banco Urquijo (European Private Banking Business Unit). 
On an underlying basis (i.e. group profit net of one-off factors and fair value changes in ALM hedging instruments), net profit ended 1% higher than the figure recorded for the strong third quarter of 2005, with a higher contribution from the Central Eastern Europe Business Unit (due to, among other things, lower credit risk charges), but a weaker performance from the capital market activities (Merchant Banking Business Unit).
Underlying profit was down 10% on the previous quarter, primarily reflecting seasonality in the earnings pattern of most business units. Over the past five years, third quarter net profit has been down 20% on average vis-à-vis the preceding quarter (financial year 2005 being the exception).
Aside from the normal seasonal trends, business volumes remained solid in many fields. Outstanding home loans, for instance, increased by 4% during the quarter (of which +11% in Central Eastern Europe), as did life insurance reserves. Following a 2% drop in the previous quarter (related to the volatile market conditions prevailing at that time), assets under management rose again by 5% during the quarter under review.
The net interest margin of the banking business moved up 3 basis points on account of, among other things, the 10-basis-point widening of the Central Eastern European interest margin.
The cost trend remained favourable (on an underlying basis, -8% vis-à-vis the previous quarter and -4% year-on-year), while loan losses were, once again, very limited (including in Central Eastern Europe).

KBC: sound underlying profit growth for first half of 2006
KBC closed the second quarter of 2006 with a profit of 736 million euros, bringing profit for the first half of the year to 1 715 million euros. Disregarding the impact of a number of one-off factors and changes in the fair value of ALM hedging derivatives, this represents an increase in underlying profit of 21% year-on-year.
According to André Bergen, the new CEO of the KBC group: "KBC's performance in the first six months of the year was commendable. Sales were strong and the financial and economic environments favourable. The latest surveys show that customer satisfaction has improved substantially and loan impairment charges, too, have generally remained low."
Results for the first half of 2006
Profit came to 1 715 million euros, with a return on equity of 25%. 
Underlying group profit (i.e. group profit net of fair value changes in ALM hedging derivatives and one-off factors) came to 1 410 million euros and was up, on a comparable basis, by 246 million euros (+21%) on the first half of 2005. One-off factors related to the integration of Gevaert, the divestment of Agfa-Gevaert, the sale of office buildings (Czech Republic) and the increase in the free float of Kredyt Bank (Poland).
The various business units' contribution to underlying profit was as follows: Belgium, 597 million euros; Central Eastern Europe, 260 million euros; Merchant Banking, 482 million euros; European Private Banking, 99 million euros; and the Group Centre, -28 million euros.
Gross income totalled 6.2 billion euros. The first six months of the year were marked by a strong sales performance, with customer deposits, the loan portfolio, assets under management and life insurance reserves (on a comparable basis) increasing year-on-year by 8%, 12%, 19% and 33%, respectively. Developments on the interest rate and capital markets also had a net positive impact.
At 2.4 billion euros, expenses were 4% up on the figure for the first half of 2005. This increase was largely accounted for by the higher result-based expenses associated with the capital market activities, which generated a high level of income. In the banking business, the cost/income ratio - a barometer of efficiency - improved again to 51% (55%, if the non-recurring income is not taken into account).
Provisions for problem loans amounted to just 57 million euros, which meant the loan loss ratio remained limited to 0.08%. The non-life insurance activities continued to turn in a very good technical result (a combined ratio of 91%).
Income taxes amounted to 658 million euros, compared with 448 million euros a year earlier.

Financial highlights - 2Q 2006
Profit growth remained sound in the second quarter: underlying profit (i.e. excluding one-off factors and fair value changes in ALM hedging derivatives) came to 634 million euros, a good deal higher than the figure recorded for each of the quarters in 2005.
As expected, compared with the (particularly strong) performance in the first quarter of 2006, income growth in the wealth management business slowed slightly, due to the more difficult stock market climate that prevailed in May and June. In addition, fewer gains were realised on investments, while capital market revenues dipped. In other areas, the growth trend was unchanged. Total credit volume, for instance, went up by 3% compared with the end of the previous quarter, while home loans increased by 5% during the quarter under review.
The cost trend remained favourable. Operating expenses (adjusted for one-off factors) were able to be kept at the same level as a year earlier.
Loan losses continued to be relatively limited (61 million euros), though they exceeded the levels reached in previous quarters, when more loan loss provisions were able to be written back than additional provisions set aside.
Compared with the preceding quarter, income taxes were, relatively speaking, on the high side, mainly because of assessments on intragroup dividends and the lower level of tax-free gains. 

KBC Groupe: robuste premier trimestre 2006
Forte hausse sous-jacente du bénéfice
KBC a clôturé le premier trimestre 2006 sur un bénéfice de 980 millions d'euros. Certains facteurs à caractère unique mis à part (y compris fluctuations de valeur d'instruments de couverture du bilan), le résultat sous-jacent progresse de 35% par rapport au trimestre précédent et de 32% par rapport au premier trimestre de l'année dernière.
La dynamique sous-jacente des revenus est restée soutenue et les réductions de valeur ont été inexistantes. La tendance de 2005 se poursuit et KBC reste optimiste à l'égard des prévisions pour 2006.
Principales données financières du premier trimestre 2006
• Le bénéfice s’est inscrit à 980 millions d’euros, ce qui donne un rendement des capitaux propres de 29%. 
La contribution des différentes divisions au bénéfice s'est répartie comme suit: Belgique: 373 millions d'euros, Europe centrale: 144 millions d'euros, Merchant Banking: 281 millions d'euros, Private Banking européen: 59 millions d'euros et Services communs: 123 millions d'euros.
• Comme annoncé, quelques plus-values exceptionnelles ont été réalisées sur la cession de participations en actions (dont le groupe industriel belge Agfa-Gevaert) et la vente d'immeubles de bureaux à Prague. 
En outre les produits ont été favorablement influencés par des fluctuations de valeur, principalement d'instruments de couverture du bilan. L'effet positif global sur le résultat net a représenté 204 millions d'euros.
• Le bénéfice sous-jacent du groupe (c.-à-d. sans tenir compte des facteurs à caractère unique et des fluctuations de valeur boursière représentant 204 millions d'euros), s'est inscrit à 776 millions d'euros, en hausse – sur une base comparable – de 201 millions d'euros (+35%) par rapport au trimestre précédent et de 190 millions d'euros (+32%) par rapport au premier trimestre de 2005.
• Les produits bruts ont atteint au total 3,2 milliards d'euros. Le trimestre a été caractérisé par le résultat soutenu des ventes de produits bancaires et d'assurance et de la gestion de fortune. En outre l’évolution des marchés de taux d’intérêt et de capitaux a eu une incidence généralement positive.
• Les dépôts de clients, le portefeuille de crédits et les réserves vie ont augmenté en trois mois de 4%, 4% et 5% respectivement (pourcentages de hausse abstraction faite des contreparties professionnelles). Le volume des avoirs en gestion a passé le cap des 200 milliards d'euros (213 milliards d'euros, soit une progression de 9% par rapport au début de l'année, due pour 85% à l'influx de capital frais). 
• Le niveau des charges s'est inscrit à 1,2 milliard d'euros et a été largement influencé par la montée des charges inhérentes aux résultats des activités du marchés de capitaux, qui ont généré des revenus substantiels. Le ratio de coûts des activités bancaires s'est replié à 49% (54% sans les produits à caractère unique).
• Il n'y a pas eu de réductions de valeur sur les portefeuilles de crédits et de placements (ratio de pertes sur crédits de 0%) et le résultat technique de l'assurance dommages a été excellent (ratio combiné de 89%).