Kbc Group N.v. · EURONEXT:KBC
Kbc — Q3 2023 Earnings Presentation
69 slides from Kbc's earnings presentation, 2023
Slide 1: KBC Group Company presentation 3Q 2023
1 of 69 KBC Group Company presentation 3Q 2023 More information: www.kbc.com KBC Group - Investor Relations Office: IR4U@kbc.be
Slide 2: Accounting framework | Implementation of IFRS 17
Accounting framework | Implementation of IFRS 17 2 of 69 IFRS 17 (Insurance contracts) is effective from 1 January 2023 (with retrospective application for 2022) and replaces IFRS 4: • The income statement is updated to include the new items introduced by IFRS 17 (also the quarterly figures of 2022
Slide 3: Strong net result of 877m EUR over 3Q23 YTD
Highlights Strong net result of 877m EUR over 3Q23 3 of 69 • Commercial bank-insurance franchises in core markets performed strongly Net result • As policy rates are peaking, KBC Group is in m EUR well-positioned being an integrated bank- insurer with tailored AM business • Customer loans and custom
Slide 4: Strategic focus | What differentiates us from peers
Strategic focus | What differentiates us from peers 4 of 69 Unique integrated bank- Successful digital-first Firmly embedded insurance+ model approach through KATE sustainability strategy • We offer an integrated response to our • Our digital interaction with clients forms • As a company that aims t
Slide 5: Strategic focus | The reference
Strategic focus | The reference 5 of 69 Profitability With a Return on Equity of 16% in 9M23 KBC is one of the most profitable EU financial institutions Solvency With a fully loaded CET1 ratio of 14.6% at end 9M23 KBC is amongst the better capitalised EU banks At KBC it is our ambition to be the ref
Slide 6: Main exceptional items
Main exceptional items 6 of 69 3Q23 2Q23 3Q22 F&C – Issuance of State Note +11m EUR BE BU Dividend inc – final liquidation dividend of real estate participation +12m EUR Total Exceptional items BE BU +11m EUR +12m EUR HU – BK & INS TAX – Temporary extra windfall bank and insurance tax -22m EUR HU –
Slide 7: Lower net interest income
Lower net interest income 7 of 69 Net interest income Net interest margin* in m EUR in %, calculated excl. the dealing room and the net positive impact of ALM FX swaps & repos 1,417 1,407 1,382 1,297 118 1,324 1,248 106 96 Insurance 1,201 115 92 98 111 1.91% 1.91% 1.90% 2.10% 2.04% 2.11% 2.04% 1,299
Slide 8: Inflow of core customer money
Inflow of core customer money 8 of 69 Customer money dynamic over 3Q23 Customer money dynamic over 9M23 in m EUR in m EUR -2.2bn EUR -3.7bn EUR +3.7bn EUR -1.7bn EUR -0.2bn EUR -0.3bn EUR -5.7bn EUR +3.9bn EUR -5.7bn EUR +0.2bn EUR +1.1bn EUR -13.4bn EUR +14.1bn EUR -3.0bn EUR +3.0bn EUR -0.9bn EUR
Slide 9: Higher net fee and commission income
Higher net fee and commission income 9 of 69 Net fee & commission income Assets under management in m EUR in bn EUR 570 576 584 588 228 225 227 542 557 549 217 9 10 11 12 211 205 206 8 8 9 Other Investment 45 46 49 41 40 42 advice Banking 40 240 256 262 262 268 239 249 services 67 63 65 64 Fund-of-F
Slide 10: Non-life sales significantly up y-o-y, life sales down q-o-q and up y-o-y
Non-life sales significantly up y-o-y, life sales down q-o-q and up y-o-y 10 of 69 Non-life sales Life sales in m EUR in m EUR 723 727 30 32 599 667 577 538 218 511 501 483 558 297 27 477 422 31 438 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 28 388 32 Hybrid products 247 29 • Up by 11% y-o-y, with growth in
Slide 11: Lower FIFV result and lower net other income
Lower FIFV result and lower net other income 11 of 69 FIFV Net other income in m EUR in m EUR 89 90 115 90 38 106 69 58 94 53 90 498 35 47 Dealing room 5 28 13 MVA/CVA/FVA 25 0 4 17 Inv. backing UL 26 29 69 16 15 16 11 contracts under IFRS17 47 54 44 6 3 -13 -5 -5 -16 -18 M2M ALM derivatives -103 -2
Slide 12: Costs excluding bank & insurance taxes slightly increased q-o-q
Costs excluding bank & insurance taxes slightly increased q-o-q 12 of 69 Operating expenses (including costs directly attributable to Bank and insurance tax spread 2023 (preliminary) insurance) in m EUR in m EUR 1,648 Total Upfront Spread out over the year 1,516 3Q23 1Q23 2Q23 3Q23 1Q23 2Q23 3Q23 4Q
Slide 13: Overview of bank & insurance taxes year-to-date (9M23)
Overview of bank & insurance taxes year-to-date (9M23)* 13 of 69 KBC Group KBC Group Belgium BU in m EUR in m EUR BU BE 651m EUR 353m EUR Pro rata 13.7% Of 9M23 opex*** 571 354 Pro rata 13.0% 347 514 of 9M23 opex*** 148 ESRF 99 ESRF** 86 154 contribution contribution Common 423 Common 255 360 261 ba
Slide 14: Net loan loss impairment charges & excellent credit cost ratio
Net loan loss impairment charges & excellent credit cost ratio 14 of 69 Other impairments Asset impairment Credit cost ratio in m EUR; negative sign is a release ECL for geopolitical, emerging and Covid risks in bps *In FY20, an ECL buffer of 44 bps was added re 60 Impairments on financial assets at
Slide 15: Outstanding ECL for geopolitical and emerging risks amounts to 291m EUR
Outstanding ECL for geopolitical and emerging risks amounts to 291m EUR 15 of 69 Q-o-q change in the outstanding ECL for geopolitical and emerging risks in m EUR; negative sign is a release YTD ECL impact: -138m EUR ECL release of 59m EUR in 3Q23, driven mainly by improved micro- 429 and macroeconom
Slide 16: Fully loaded Basel III CET1 from 2Q23 to 3Q23
Fully loaded Basel III CET1 from 2Q23 to 3Q23 16 of 69 Q-o-q variance of CET1 capital in bn EUR 18.0 +0.7 -0.4 -1.3 16.8 -0.2 0.0 2Q23 (B3 DC) 3Q23 net result Pro-rata accrual Share buyback Translation Other* 3Q23 (B3 DC) Jan 2012 (excl. KBC Ins. dividend differences due to Danish Fully loaded B3 co
Slide 17: Strong capital position with substantial buffer to MDA
Strong capital position with substantial buffer to MDA 17 of 69 Capital requirements and distance to Maximum Distributable Amount (MDA) restrictions as at 30SEP23 (fully loaded, B3) in % Regulatory requirement 18.1 KBC Group 2.0 Tier 2 16.1 • P2R 1.86% (= Pillar II requirement) AT1 15.2 AT1 1.05% to
Slide 18: Leverage ratio, Solvency II ratio and liquidity ratios
Leverage ratio, Solvency II ratio and liquidity ratios 18 of 69 Leverage ratio | KBC Group Liquidity ratios | KBC Group Solvency II ratio | KBC Group fully loaded, Basel 3 in % in % Leverage LCR NSFR Solvency II ratio ratio 5.4% 9M23 157% 9M23 139% 9M23 202% 9M23 5.3% FY22 152% FY22 136% FY22 203% F
Slide 19: Looking forward
Looking forward 19 of 69 Economic outlook Group guidance under IFRS17 | 2023 • The growth in the euro area is expected to stagnate for the • Our FY23 total income guidance remains at 11.15bn EUR remainder of 2023, due to the impact of the ECB’s tightening ballpark figure (including a 0.4bn EUR posit
Slide 20: FY23 NII guidance
FY23 NII guidance 20 of 69 in bn EUR; MRR = Minimum Required Reserves; CASA = Current Accounts and Savings Accounts, TD = Term Deposits • MRR BNB: -40m EUR • MRR MNB: -40m EUR • MRR ECB: -17m EUR • 3Q23: -22m EUR • 4Q23: -51m EUR -0.1bn -0.1bn 5.6bn • MRR CNB: -17m EUR -0.1bn -0.1bn 5.4bn -0.02bn 1.
Slide 21: Indicative impacts of recent external events on FY24
Indicative impacts of recent external events on FY24 21 of 69 Impact of the SEP23 Belgian State Note emission Increased Belgian bank tax • Referencing its 1-year tenor, the deposit outflows following the SEP23 Belgian • The Belgian government decided recently to increase the national bank taxes by:
Slide 22: Looking forward - FY24 NII indication
Looking forward - FY24 NII indication 22 of 69 FY24 NII is estimated to be flattish yoy (hence 5.4bn EUR ballpark), based on the following assumptions: • The market forward rates (for ST & LT interest rates) • Commercial transformation result will continue to benefit from the positive impact of incr
Slide 23: Indicative view on transitional RWA evolution under Basel IV
Indicative view on transitional RWA evolution under Basel IV Based on current EU consensus for Basel IV, a static balance sheet and all other parameters ceteris paribus, without any 23 of 69 mitigating actions • 3Q23 included the previously communicated 8.2bn EUR model-related RWA add-on, partly off
Slide 24: Wrap-up
Wrap-up 24 of 69 Excellent financial Outstanding solvency Kate convinces Franchise is growing performance and liquidity customers CET1 ratio 3.7 million loan customer net result volumes deposits 877m 14.6% users 3Q23 2.9% buffer in contact +2% -2% vs MDA with Kate y-o-y y-o-y NSFR AM net return on i
Slide 25: Supplemental information & disclosures
Supplemental information & disclosures 25 of 69 Business unit view (slide 26-39) Annexes (slide 40-66) • Belgium BU • Company profile • Czech Republic BU • KBC strategy • International Markets BU • Sustainability • Slovakia • Asset quality • Hungary • MREL & funding • Bulgaria • Group Centre BU Navi
Slide 26: Belgium BU (1) | Net result
Belgium BU (1) | Net result 26 of 69 Net result ROAC in m EUR 9M23 23% 64% of Allocated Capital 652 545 576 517 447 299 231 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 • The quarter was characterised by lower net interest income, higher net fee and commission income, lower net result from financial instrumen
Slide 27: Belgium BU (2) | Net interest income
Belgium BU (2) | Net interest income 27 of 69 Net interest income Net interest margin in m EUR in % 1.98% 0.07% One-off cancellation fee of internal deals 1.95% 1.91% 2.05% 1.91% 1.57% 1.59% 1.62% 812 857 812 703 769 636 677 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 • Decreased by 14 bps q-o-q and rose by
Slide 28: Belgium BU (3) | Credit margins in Belgium
Belgium BU (3) | Credit margins in Belgium 28 of 69 Product spread on customer loan book | Outstanding in % 1.3 1.2 1.1 1.0 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4
Slide 29: Belgium BU (4) | Other income lines & cross-selling
Belgium BU (4) | Other income lines & cross-selling 29 of 69 Net fee & commission income Insurance in m EUR • Insurance sales: 673m EUR • Non-life sales (331m EUR) +9% y-o-y, due to premium growth in all classes, due to a combination of volume and tariff increases • Life sales (342m EUR) fell by 45%
Slide 30: Belgium BU (5) | Opex & impairments
Belgium BU (5) | Opex & impairments 30 of 69 Operating expenses Asset impairment Other impairments in m EUR in m EUR ECL for geopolitical, emerging and Covid risks 931 Impairments on financial assets at AC and FVOCI 898 58 347 16 354 612 617 625 Bank & 43 573 0 6 0 40 550 Insurance taxes 21 5 4 3 1
Slide 31: Czech Republic BU (1) | Net result
Czech Republic BU (1) | Net result 31 of 69 ROAC Net result 9M23 in m EUR 40% 15% of Allocated Capital 276 244 199 200 170 184 41 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 • The quarter was characterised by lower net interest income, stable net fee & commission income, lower net result from financial instr
Slide 32: Czech Republic BU (2) | Net interest income
Czech Republic BU (2) | Net interest income 32 of 69 Net interest income Net interest margin in m EUR in % 2.65% 2.70% 2.45% 2.40% 2.30% 2.35% 2.26% 326 340 325 323 325 316 309 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 • Fell by 9 bps q-o-q and by 19 bps y-o-y for the rea
Slide 33: Czech Republic BU (3) | Other income lines & cross-selling
Czech Republic BU (3) | Other income lines & cross-selling 33 of 69 Net fee & commission income Insurance in m EUR • Insurance sales: 165m EUR • Non-life sales (117m EUR) +11% y-o-y (+9% excl. FX), due to premium growth in all classes • Life sales (48m EUR) increased by 5% q-o-q (+7% excl. FX) and b
Slide 34: Czech Republic BU (4) | Opex & impairments
Czech Republic BU (4) | Opex & impairments 34 of 69 Operating expenses Asset impairment Other impairments in m EUR in m EUR ECL for geopolitical, emerging and Covid risks Impairments on financial assets at AC and FVOCI 280 269 236 60 231 31 60 1 227 213 0 Bank & insurance taxes 204 0 29 48 6 3 5 16
Slide 35: International markets BU (1) | Highlights
International markets BU (1) | Highlights 35 of 69 ROAC Net result 9M23 Organic volume trend in m EUR 200 190 25% Total o/w retail Customer 19% of loans** mortgages deposits*** 160 Allocated Capital 145 79 Bulgaria Volume (EUR) 27bn 10bn 30bn 90 45 Growth q-o-q* +2% +2% +2% 56 108 Growth y-o-y +9% +
Slide 36: International markets BU (2) | Slovakia
International markets BU (2) | Slovakia 36 of 69 Net result ROAC Volume trend in m EUR 9M23 15% • Total customer loans rose by 1% q-o-q and by 9% y-o-y (the latter due 5% of mainly to strong loan growth in corporate and mortgage loans) Allocated Capital • Total customer deposits rose by 1% q-o-q and
Slide 37: International markets BU (3) | Hungary
International markets BU (3) | Hungary 37 of 69 • Net loan loss impairment releases, as a 13m EUR net impairment reversal Net result ROAC for geopolitical and emerging risks more than offset the 7m EUR net loan in m EUR 9M23 loss impairment charges. Credit cost ratio of -0.20% in 9M23 (0.42% in FY22
Slide 38: International markets BU (4) | Bulgaria
International markets BU (4) | Bulgaria 38 of 69 Net result ROAC Volume trend in m EUR 9M23 31% • Total customer loans rose by 3% q-o-q (due to growth in all 7% of segments) and by 9% y-o-y (due to growth in all segments, except Allocated Capital corporate loans) 90 • Total customer deposits rose by
Slide 39: Group Centre BU | Highlights
Group Centre BU | Highlights 39 of 69 Net result Highlights (q-o-q), excluding Ireland in m EUR 291 • Excluding Ireland, the q-o-q lower result of Group Centre was attributable mainly to: • Lower net results from financial instruments at 351 fair value, mainly due to a lower realised FX 33 result on
Slide 40: Company profile | KBC Group in a nutshell (1)
Company profile | KBC Group in a nutshell (1) 40 of 69 Diversified and strong business performance We want to be among Europe’s best performing financial institutions • geographically … • Mature markets (BE, CZ) combined with developing markets (SK, HU, BG) • We are a leading European financial grou
Slide 41: Company profile | KBC Group in a nutshell (2)
Company profile | KBC Group in a nutshell (2) 41 of 69 High profitability (IFRS 17 figures) Solid capital position combined CET 1 ratio (fully loaded, Danish compromise) C/I ratio* ratio net result in % 49% FY22 87% FY22 2,818m FY22 17.1% 17.6% 48% 9M23 2,725m 9M23 15.8% 16.3% 16.0% 15.5% 15.4% 85%
Slide 42: Company profile | KBC Group in a nutshell (3)
Company profile | KBC Group in a nutshell (3) 42 of 69 Dividend policy & capital distribution Shareholder structure (as of 2023) (as at end 9M23) • We aim to be amongst the better capitalised financial MRBB Other core institutions in Europe. As a consequence, the dividend policy of KBC Group is tail
Slide 43: Company profile | Well-defined core markets
Company profile | Well-defined core markets 43 of 69 Belgium BU Czech Republic BU International Markets BU SK HU BG 60% of assets 118bn EUR loans 24% of assets 37bn EUR loans 4% of assets 4% of assets 4% of assets 3.9m clients 4.3m clients 0.8m clients 1.6m clients 2.2m clients 436 branches 200 bran
Slide 44: Strategy | Differently: the next level
Strategy | Differently: the next level 44 of 69 Our strategy rests on the following principles: • We place our clients at the centre of everything we do. • We look to offer our clients a unique bank-insurance experience. • We focus on our group’s long-term development and aim to achieve sustainable
Slide 45: Strategy | Powered by PEARL
Strategy | Powered by PEARL 45 of 69 ‘Why would you build exactly the same thing in your country, when you have the solution next door?’ Johan Thijs Highlights Profit & Loss Capital & Liquidity Looking forward Business units Company profile KBC Strategy Sustainability Asset quality MREL & Funding
Slide 46: Strategy | Bank-insurance+
Strategy | Bank-insurance+ 46 of 69 We move beyond traditional bank-insurance towards bank-insurance+, providing not only traditional bank-insurance solutions but also less traditional non-financial solutions that impact the financial wellness of retail customers or the future of their business Data
Slide 47: Strategy | The KBC performance diamond
Strategy | The KBC performance diamond 47 of 69 The performance diamond defines, within the limits of the risk management framework, the targets for KBC Group and for all the business units for 4 performance dimensions: Highlights Profit & Loss Capital & Liquidity Looking forward Business units Comp
Slide 48: Kate | KBC's hyper personalised and trusted digital assistant
Kate | KBC’s hyper personalised and trusted digital assistant 48 of 69 Personalised & data driven The interaction between the customer and Kate will be triggered by data analysis (approval granted by customer). Kate will be trained on the basis of the customer’s Digital first & E2E profile, preferen
Slide 49: Kate | Four flavours, one Kate
Kate | Four flavours, one Kate 49 of 69 Kate4MassRetail Kate4Business Kate Group Platform Kate4Employees Kate is a personal virtual Kate will also engage with our We do not build Kate for every Kate will also have an impact on assistant that engages with our self-employed, micro-SME, SME country ind
Slide 50: Kate | A data-driven organisation with Kate at the core
Kate | A data-driven organisation with Kate at the core 50 of 69 Kate is more than an interface towards customers. It also refers to the AI-enhanced software at our center: the Kate brain. The Kate brain will be the driving force behind data-driven decision making, product design and development, ma
Slide 51: Kate | From basic chatbot to hyper-personal digital assistant
Kate | From basic chatbot to hyper-personal digital assistant 51 of 69 … Level 4: Kate offers hyper-personal solutions at the right time LEVEL 4 LEVEL 3 Hyper- personal & Level 3: Kate proactively offers actionable end- LEVEL 2 Proactive contextual to-end solutions to unburden customers LEVEL 1 End2
Slide 52: DISCAI | KBC's AI fintech
DISCAI | KBC’s AI fintech, launched on 7 March 2022 52 of 69 DISCAI – Discovering AI Next steps for DISCAI • Fully owned KBC Group subsidiary, grouping the in-house developed artificial intelligence (AI) solutions Starting with commercialisation of AML platform • Bank-Insurance as a Service • Inno
Slide 53: Strategy | Translating strategy into non-financial targets
Strategy | Translating strategy into non-financial targets 53 of 69 • No hassle, no frills, zero-delay customer experience • Proactive personalized financial solutions via DATA and AI • Re-design & automation of all processes • Bank-insurance+ • Digital lead management: from data driven to solution
Slide 54: Strategy | Update on KBC's non-financial targets
Strategy | Update on KBC’s non-financial targets 54 of 69 Customer ranking Bank-insurance (BI) clients Digital sales BI clients Digital sales banking products* in % in % Top-3 Top-2 Top-2 Top-2 * 2020 2021 2022 2023 77% 78% 81% 78% * 80% 39% 46% 51% 40% 32% • KBC is 2nd in customer NPS (Net Promoter
Slide 55: KBC's ESG ratings and indices are ahead of the curve
KBC’s ESG ratings and indices are ahead of the curve 55 of 69 Agency ESG rating of 25th of October 2023 Position versus industry average D- A • Leader in addressing climate change • CDP’s A list A • Financial average service B- Severe Risk High Risk Medium Risk Low Risk Negligible Risk • 2nd percent
Slide 56: Sustainability highlights
Sustainability highlights 56 of 69 Commitment to climate action Sustainable business Social responsibility 2030 and 2050 climate targets Social bond 7.4bn EUR Committed to a first set of climate Issued a second social bond for Financing contributing to targets for the most material investments in he
Slide 57: Direct environmental impact: our progress in brief
Direct environmental impact: our progress in brief 57 of 69 DIRECT environmental footprint (FY 2022) More details in our 2022 Sustainability Report • In 2020, we set more stringent ambitions to reduce the GHG emissions resulting from our own operations • Furthermore, we included commuter travel in o
Slide 58: Indirect environmental impact: our progress in brief
Indirect environmental impact: our progress in brief 58 of 69 INDIRECT environmental footprint (FY 2022) Loan portfolio (selection of sectors) reduction compared to 2021 baseline, otherwise indicated • We refer to our Collective Commitment to Climate Mortgages and commercial Operational lease Electr
Slide 59: Loan loss experience at KBC
Loan loss experience at KBC 59 of 69 Credit cost ratio* in %; Credit cost ratio: amount of losses incurred on troubled loans as a % of total average outstanding loan portfolio AVERAGE 9M23 FY22 FY21 FY20 FY19 FY18 FY17 ‘99 –’22 Belgium BU 0.07% 0.03% -0.26% 0.57% 0.22% 0.09% 0.09% n/a Czech Republic
Slide 60: Diversified loan portfolio
Diversified loan portfolio 60 of 69 Total loan portfolio outstanding Total loan portfolio outstanding | by segment as % of total Group loan portfolio outstanding* Total loan portfolio outstanding 202bn EUR* Corporate 37.6% 40.8% Retail Group level Total loan portfolio outstanding | by sector as % of
Slide 61: Loan portfolio breakdown by IFRS 9 ECL stage
Loan portfolio breakdown by IFRS 9 ECL stage 61 of 69 Total loan portfolio outstanding | by IFRS9 ECL Stage* Stage 3 ratio | Belgium BU as % of total Group loan portfolio outstanding in % 2.4% 2.3% 2.2% 19.9% 19.0% 1.9% 1.9% 2.0% 2.0% 18.2% 17.5% Stage 2 13.6% 11.3% 11.5% FY19 FY20 FY21 FY22 1Q23 1H
Slide 62: Cover ratios
Cover ratios 62 of 69 Cover ratio | by IFRS9 ECL Stage* Stage 3 cover ratio | Belgium BU in % in % 41.7% 45.6% 42.6% 39.6% 39.3% 38.7% 39.2% 47.1% 47.1% 46.4% 46.0% 46.1% 44.7% 42.0% Stage 3 FY19 FY20 FY21 FY22 1Q23 1H23 9M23 Stage 3 cover ratio | Czech Republic BU 4.8% in % 1.3% 2.2% 1.7% 1.8% 1.6%
Slide 63: Substantial and well-diversified government bond portfolio
Substantial and well-diversified government bond portfolio 63 of 69 • Carrying value of 55.9bn EUR in government bonds (excl. trading book) at end of 9M23, primarily as a result of a significant excess liquidity position and the reinvestment of insurance reserves in fixed-income instruments • Carryi
Slide 64: Above resolution requirements of 9M23 in terms of MREL
Above resolution requirements of 9M23 in terms of MREL 64 of 69 MREL targets MREL actuals • The resolution plan for KBC is based on a Single Point of Entry • The MREL ratio in % of RWA decreased from 32.2% in 1H23 to 30.2% in (SPE) approach at KBC Group level, with bail-in as the preferred 9M23. Thi
Slide 65: Upcoming mid-term funding maturities
Upcoming mid-term funding maturities 65 of 69 Total outstanding | 3Q23 Funding program | 3Q23 in % • In September 2023, KBC Group issued an AT1 for an amount of 750m EUR KBC Bank has 6 solid sources of long-term funding: (i) Retail term deposits, (ii) Retail EMTN, (iii) Public benchmark transactions
Slide 66: Strong and growing customer funding base
Strong and growing customer funding base 66 of 69 • KBC Bank continues to have a strong retail/mid-cap deposit base in its core markets – resulting in a stable funding mix with a significant portion of the funding attracted from core customer segments and markets • Stable % in customer funding compa
Slide 67: Glossary
Glossary 67 of 69 B3 / B4 Basel III / Basel IV Combined ratio (non-life Short-term non-life insurance contracts: [claims and claim related costs net of reinsurance + costs other than claims and commissions] / [earned expected insurance) premiums received, net of reinsurance] Common equity ratio [com
Slide 68: Contacts / questions
Contacts / questions 68 of 69 Johan Thijs More information KBC Group CEO • Company website KBC • Quarterly Report Quarterly Reports • Table of results (Excel) Luc Popelier KBC Group CFO • Quarterly presentation Presentations • Debt presentation Kurt De Baenst direct +32 2 429 35 73 Upcoming events I
Slide 69: Disclaimer
Disclaimer 69 of 69 • This presentation is provided for information purposes only. It does not constitute an offer to sell or the solicitation to buy any security issued by the KBC Group. • KBC believes that this presentation is reliable, although some information is condensed and therefore incomple