KBC rises on profit beat, dividend and acquisition of Slovak peer

KBC Groep NV

15/05/2025 09:21

** Shares in Belgian lender KBC Groep KBC.BR rise as much as 3.1% to their highest since March 27 after better-than-expected quarterly results accompanied by announcement of buyout of its smaller Slovak peer 365.bank, and updated range of future dividends

** The first quarter net profit came at 546 million euros ($611.30 million), more than 3% above consensus

** The lender also announced buying of Slovak lender 365.bank for 761 million euros

** It also updated its capital distribution policy, in which it specified the range of dividend to 50% to 65% of consolidated profit from "at least 50%"

** "There is a lot going on in KBC’s Q1 update," says RBC analyst Anke Reingen in a note, highlighting that Slovak bank acquisition should increase KBC's revenue from activities in the region by 54%

** Up to the previous session's close, shares were up 14.1%​ YTD

    ($1 = 0.8932 euros)

(Reporting by Mateusz Rabiega)

((Mateusz.rabiega@thomsonreuters.com))