KBC considering acquisitions in Central and Eastern Europe, CEO says

KBC Groep NV

13/02/2025 16:28

By Jakob Van Calster and Mateusz Rabiega
       Feb 13 (Reuters) - Belgium's largest bank KBC  KBC.BR 
is considering acquisitions in Central European markets,
including Romania, CEO Johan Thijs told Reuters on Thursday.
    The lender, which is already active in the Czech Republic,
Hungary, Slovakia and Bulgaria, is looking into opportunities in
both the banking and insurance segments, Thijs said.
    "We are definitely looking into possibilities on the M&A
front," Thijs said in an interview. "If tomorrow one or the
other bank or insurance company is available, we will definitely
have a look."
    "If something (becomes) available in Romania, we would be
interested as well."
     He said the bank has a shortlist of potential targets, but
declined to give further details.
    Thijs said the bank is also interested in buying state-owned
Belgian insurer Ethias - whose potential sale has long been a
point of political contention between its joint owners, the
Flemish, Walloon and federal states - "when they become
available".
    The bank's Central European units helped it achieve strong
results in 2024, accounting for almost 50% of annual net
earnings.
    Europe's banking sector is seeing broader consolidation,
with Spain's BBVA  BBVA.MC  pursuing smaller rival Sabadell
 SABE.MC , Commerzbank  CBKG.DE  fending off advances from
Italy's UniCredit  CRDI.MI , and Dutch ING Groep  INGA.AS 
exploring takeover options in Germany, Italy and Spain.
    The KBC chief called on Europe to reconsider banking
regulation, referencing President Donald Trump's promises to
deregulate the U.S. banking sector.
    "One good thing about the behaviour of Mr. Trump is that it
might cause the European institutions to reconsider their
positions (on a European Banking Union)", he said.
    "I don't believe in a sector which is fully
self-regulated... (but) the pendulum has swung too far," he
said.

 (Reporting by Jakob Van Calster and Mateusz Rabiega in Gdansk;
Editing by Jan Harvey)
 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))