News & trends



Strategy & Functions
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.




Related news

Channels
Products


Banking density and bank account penetration rate in the Maghreb countries

Africa - March 2014



According to Lavieeco.com, Jordan is the Maghreb country with the highest banking density with one branch per 5,000 inhabitants, followed by Morocco (1 branch per 6,000 inhabitants), Tunisia (1 branch per 7,400 inhabitants), Egypt (1 branch per 22,000 inhabitants) and Algeria (1 branch per 25,000 inhabitants). For the bank account penetration rate, Morocco tops the list with a rate of 57%, followed by Tunisia (42 %), Jordan (35 %), Algeria (30 %) and Egypt (28 %).



News summary compiled by Efma Information Services



Jyske Bank doubles in size

Denmark - May 2014



In Denmark, Jyske Bank has doubled in size following its acquisition of BKFkredit, the country’s fourth largest mortgage bank, in a deal valued at 992 million euros. As a result of this transaction, Jyske Bank will have 900,000 customers, 149 branches and 4,600 employees.



News summary compiled by Efma Information Services

Strategy & Functions


In Poland, BNP Paribas has acquired Bank Gospodarki Żywnościowej (BGZ)

Poland - December 2013



In Poland, the French bank BNP Paribas has acquired Bank Gospodarki Żywnościowej (BGZ), by purchasing the Dutch bank Rabobank’s 98.5% stake in BGZ for a consideration of around one billion euros. Bank Gospodarki Żywnościowej has a network of 400 branches which will enable BNP Paribas to boost its presence in Poland where it already operates under the name of BNP Paribas Bank Polska.



News summary compiled by Efma Information Services

News & trends  

keep up-to-date with the latest banking and retail financial services news thanks to the weekly "news snippets" produced by Efma's information centre.

Industry news

Efma's information monitoring and filtering service provides members with online access to a selection of articles and press releases

Media partnership

You work in the Press and Media area and you news concerns for the retail financial community? Your news can be added to the list of industry news with a link towards your publication.
To know more, please contact Anne Laure (marketing@efma.com)