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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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Banking density and bank account penetration rate in the Maghreb countries

Africa - March 2014

According to, 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

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

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 Å»ywnoÅ›ciowej (BGZ), by purchasing the Dutch bank Rabobank’s 98.5% stake in BGZ for a consideration of around one billion euros. Bank Gospodarki Å»ywnoÅ›ciowej 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

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