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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

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

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

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