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KBC to sell its Russian subsidiary Absolut Bank
Russian Federation | December 2012

The Belgian banking and insurance group KBC has agreed to sell its Russian banking subsidiary Absolut Bank to a group of Russian investors for 300 million euros. The deal is due to be closed in the second quarter of 2013 once it has been approved by the regulatory authorities. This sale, which is expected to have a positive impact of around 100 million euros on KBC’s consolidated results in 2013 but not on the capital, should improve KBC’s tier-1 capital ratio by around 0.4 percentage points. KBC had decided to refocus on retail banking in Belgium and Central and Eastern Europe.

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Strategy & Functions

China Construction Bank’s international expansion

China - November 2013

The second largest State-owned Chinese bank, China Construction Bank (CCB), has acquired 72% of the capital of the Brazilian bank Banco Industrial e Commercial for a consideration of 533 million euros. This is the largest acquisition to date by a Chinese bank in Latin America. China Construction Bank has also announced that it is interested in making acquisitions in Europe, in particular in Germany and the United Kingdom, where the bank’s representatives have held exploratory talks with the local regulatory authorities.

News summary compiled by Efma Information Services

Strategy & Functions

Banco Sabadell is preparing to return to Mexico

Mexico - November 2013

The Spanish bank Banco Sabadell exited the Mexican banking market eighteen months ago after having sold its 20% stake in Banco del Bajio. However, the bank’s President, Josep Oliu, has recently announced that, as part of its 2014-2016 strategic plan, the bank is considering re-entering the Mexican market. Banco Sabadell is looking into the possibility of launching banking activities in Mexico from zero.

News summary compiled by Efma Information Services


Orange Poland and mBank to launch a mobile bank

Poland - March 2014

In Poland, the telecom operator Orange Poland is poised to launch a bank designed specifically for smartphone and tablet users. Orange Poland’s mobile bank, which is due to be launched in the second half of 2014, will offer retail customers and SMEs the following banking services: mobile payments, current accounts, loans, deposits and credit and debit cards. These services will be provided by mBank.

News summary compiled by Efma Information Services

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