Kbc Group N.v. · EURONEXT:KBC
Kbc — Q1 2024 Earnings Presentation
67 slides from Kbc's earnings presentation, 2024
Slide 1: KBC Group Company presentation 1Q 2024
1 of 67 KBC Group Company presentation 1Q 2024 More information: www.kbc.com KBC Group - Investor Relations Office: IR4U@kbc.be
Slide 2: Excellent net result of 506m EUR over 1Q24
Highlights Excellent net result of 506m EUR over 1Q24 2 of 67 • Commercial bank-insurance franchises performed excellently Net result in m EUR • As policy rates have peaked, KBC Group is well-positioned being an integrated bank-insurer with tailored AM business 966 882 877 • Customer loans and custo
Slide 3: Dividend policy and capital deployment policy
Dividend policy and capital deployment policy 3 of 67 • In line with our announced capital deployment plan for FY23, the Board of Directors decided to distribute the surplus capital above the fully loaded CET1 ratio of 15% (roughly 280m EUR) in the form of an extraordinary interim dividend of 0.70 E
Slide 4: Strategic focus | What differentiates us from peers
Strategic focus | What differentiates us from peers 4 of 67 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 67 Profitability With a Return on Equity of 14% in 1Q24 KBC is one of the most profitable EU financial institutions Solvency With a fully loaded CET1 ratio of 14.9% at end 1Q24 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 67 1Q24 4Q23 1Q23 NOI – Realised gains +18m EUR BE BU NOI – Recuperation Belgian bank & insurance taxes + moratorium interests +48m EUR Total Exceptional items BE BU +18m EUR +48m EUR NOI – legacy legal file(s) -2m EUR CZ BU Impairments – Goodwill on CSOB S -109m EUR Tota
Slide 7: Higher net interest income
Higher net interest income 7 of 67 Net interest income Net interest margin* in m EUR in %, calculated excluding dealing room, ALM FX swaps & repos 1,407 1,382 1,360 1,369 1,324 106 96 98 95 Insurance 92 2.04% 2.11% 2.04% 1.99% 2.08% 1,301 Banking 1,232 1,286 1,261 1,274 (incl. Holding) 1Q23 2Q23 3Q2
Slide 8: Inflow of core customer money
Inflow of core customer money 8 of 67 Customer money dynamic over 1Q24 in m EUR +2.0bn EUR +1.9bn EUR +1.2bn EUR -1.5bn EUR -3.2bn EUR +3.7bn EUR -0.3bn EUR 31DEC23 foreign branches FX impact current accounts savings accounts term deposits mutual funds 31MAR24 • 1Q24 saw an inflow of core customer m
Slide 9: Higher net fee and commission income
Higher net fee and commission income 9 of 67 Net fee & commission income Assets under management in m EUR in bn EUR 588 600 614 258 576 584 244 12 12 15 Other 227 10 11 217 225 Investment 59 55 advice 261 Banking services 42 46 49 262 262 268 265 68 71 Fund-of-Funds 63 65 64 Group assets & 21 21 20
Slide 10: Non-life sales up y-o-y, life sales significantly up
Non-life sales up y-o-y, life sales significantly up q-o-q and y-o-y 10 of 67 Non-life sales Life sales in m EUR in m EUR 765 727 33 Hybrid products 32 685 36 Guaranteed- 667 730 577 558 549 218 261 Interest products 477 297 31 438 1Q23 2Q23 3Q23 4Q23 1Q24 32 • Up by 9% y-o-y, with growth in all cou
Slide 11: FIFV & IFIE result down q-o-q, net other income
FIFV & IFIE result down q-o-q and net other income slightly above normal run rate 11 of 67 FIFV & IFIE Net other income in m EUR in m EUR 1Q23 2Q23 3Q23 4Q23 1Q24 Dealing room 94 69 47 78 102 MVA/CVA/FVA 4 5 17 -41 5 498 IFIE – interest -50 -53 -56 -59 -60 accretion M2M ALM derivatives -24 13 -17 -1
Slide 12: Costs excluding bank & insurance taxes decreased q-o-q
Costs excluding bank & insurance taxes decreased q-o-q 12 of 67 Operating expenses (including costs directly attributable to Bank and insurance tax spread 2024 (preliminary) insurance) in m EUR in m EUR Total Upfront Spread out over the year 1,648 1Q24 1Q24 1Q24 2Q24 3Q24 4Q24 1,582 BE BU 317 317 0
Slide 13: Overview of bank & insurance taxes
Overview of bank & insurance taxes* 13 of 67 KBC Group KBC Group Belgium BU in m EUR in m EUR 518m EUR BU BE 317m EUR Pro rata 13.0% Pro rata 11.6% 571 of 1Q24 opex*** 347 518 of 1Q24 opex*** 317 ESRF** 27 ESRF 0 148 86 contribution contribution Common bank & 491 Common bank & 317 423 261 insur. tax
Slide 14: Limited net loan loss impairment charges & excellent credit cost ratio
Limited net loan loss impairment charges & excellent credit cost ratio 14 of 67 Other impairments Asset impairment ECL for geopolitical & macroeconomic uncertainties Credit cost ratio in m EUR; negative sign is a release in bps 60 *In FY20, an ECL buffer of 44 bps was added re Impairments on financi
Slide 15: Fully loaded Basel III CET1 from 4Q23 to 1Q24
Fully loaded Basel III CET1 from 4Q23 to 1Q24 15 of 67 Q-o-q variance of CET1 capital in bn EUR -0.2 +0.4 17.2 -0.3 17.0 -0.1 Fully loaded B3 common equity 4Q23 (B3 DC) 1Q24 net result Pro-rata accrual Payment of Other** 1Q24 (B3 DC) Jan 2012 ratio amounted to 14.9% at the (excl. KBC Ins. due divide
Slide 16: Strong capital position with substantial buffer to MDA
Strong capital position with substantial buffer to MDA 16 of 67 Capital requirements and distance to Maximum Distributable Amount (MDA) restrictions as at 31 March 2024 (fully loaded, B3) in % Regulatory requirement 19.8 KBC Group 3.4 Tier 2 • P2R 1.86% (= Pillar II requirement) 16.5 1.05% to be met
Slide 17: Leverage ratio, Solvency II ratio and liquidity ratios
Leverage ratio, Solvency II ratio and liquidity ratios 17 of 67 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% 1Q24 162% 1Q24 139% 1Q24 202% 1Q24 5.7% FY23 159% FY23 136% FY23 206% F
Slide 18: Looking forward | Economic outlook
Looking forward I Economic outlook 18 of 67 • After the mild contraction in the fourth quarter of 2023, • The main risks to our short-term outlook for European growth in the euro area in the first quarter was positive growth include the global weakness of the again. The manufacturing sector showed p
Slide 19: Looking forward | FY24 financial guidance
Looking forward I FY24 financial guidance (as provided with FY23 results) 19 of 67 Our bank-insurance+ model is firing on all cylinders Note: all growth figures are based on reported 2023 figures 2024 Net interest income* 5.3-5.5bn EUR Organic loan volume growth approx. +3% Insurance revenues (befor
Slide 20: FY24 financial guidance | NII sensitivities for 2024
FY24 financial guidance | NII sensitivities for 2024 (as provided with FY23 results) 20 of 67 5.5bn EUR Full guidance range accounts for following conservative assumptions: Within this range, we see following sensitivities • Market forward rates of mid-January assuming full impact/shock as of 1/1/20
Slide 21: Looking forward | FY26 financial guidance
Looking forward I FY26 financial guidance (as provided with FY23 results) 21 of 67 Our bank-insurance+ model is firing on all cylinders Note: all growth figures are based on reported 2023 figures 2026 Net interest income* CAGR23-26 at least +1.8% Insurance revenues (before reinsurance) CAGR23-26 at
Slide 22: Indicative view on transitional RWA evolution under Basel IV
Indicative view on transitional RWA evolution under Basel IV (as provided with FY23 results) Based on current EU consensus for Basel IV, a static balance sheet and all other parameters ceteris paribus, without any 22 of 67 mitigating actions • 3Q23 included the previously communicated 8.2bn EUR mode
Slide 23: Wrap-up
Wrap-up 23 of 67 Excellent financial Outstanding solvency Kate convinces Franchise is growing performance and liquidity customers net result loan customer 506m CET1 ratio 4.5 million volumes deposits 1Q24 14.9%** users 3402m 3.7% buffer in contact +4% +1% vs MDA with Kate y-o-y y-o-y FY23 NSFR AM ne
Slide 24: Supplemental information & disclosures
Supplemental information & disclosures 24 of 67 BU view (slide 25-38) Annexes (slide 39-64) • Belgium BU • Company profile • Czech Republic BU • KBC strategy • International Markets BU • Sustainability • Slovakia • Asset quality • Hungary • MREL & funding • Bulgaria • Group Centre BU • FY 2023 Navig
Slide 25: Belgium BU (1) | Net result
Belgium BU (1) | Net result 25 of 67 Net result ROAC in m EUR 1Q24 11% 64% of Allocated Capital 576 517 474 299 243 1Q23 2Q23 3Q23 4Q23 1Q24 • The quarter was characterised by stable net interest income, higher net fee and commission income, higher sales of non-life and life insurance products, lowe
Slide 26: Belgium BU (2) | Net interest income
Belgium BU (2) | Net interest income 26 of 67 Net interest income Net interest margin in m EUR in % 1.91% 2.05% 1.91% 1.90% 1.94% 857 812 809 809 769 1Q23 2Q23 3Q23 4Q23 1Q24 • Increased by 4 bps q-o-q and by 3 bps y-o-y for the reasons 1Q23 2Q23 3Q23 4Q23 1Q24 mentioned on net interest income and a
Slide 27: Belgium BU (3) | Credit margins in Belgium
Belgium BU (3) | Credit margins in Belgium 27 of 67 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 28: Belgium BU (4) | Other income lines & cross-selling
Belgium BU (4) | Other income lines & cross-selling 28 of 67 Net fee & commission income Insurance in m EUR • Insurance sales: 1,142m EUR • Non-life sales (471m EUR) +8% y-o-y, due to premium growth in all classes, due to a combination of volume and tariff increases • Life sales (671m EUR) rose by 1
Slide 29: Belgium BU (5) | Opex & impairments
Belgium BU (5) | Opex & impairments 29 of 67 Operating expenses Asset impairment Other impairments in m EUR in m EUR ECL for geopolitical & macroeconomic uncertainties 931 923 Impairments on financial assets at AC and FVOCI 58 Bank & 16 347 317 insurance taxes 625 651 617 37 0 8 6 40 0 3 1 28 59 47
Slide 30: Czech Republic BU (1) | Net result
Czech Republic BU (1) | Net result 30 of 67 ROAC Net result 1Q24 in m EUR 38% 15% of Allocated Capital 276 184 200 197 102 1Q23 2Q23 3Q23 4Q23 1Q24 • The quarter was characterised by higher net interest income excluding FX, higher net fee & commission income, higher sales of non-life and life insura
Slide 31: Czech Republic BU (2) | Net interest income
Czech Republic BU (2) | Net interest income 31 of 67 Net interest income Net interest margin in m EUR in % 2.30% 2.35% 2.26% 2.29% 2.39% 309 325 316 322 315 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 • Rose by 10 bps q-o-q and by 9 bps y-o-y for the reasons mentioned on net interest income an
Slide 32: Czech Republic BU (3) | Other income lines & cross-selling
Czech Republic BU (3) | Other income lines & cross-selling 32 of 67 Net fee & commission income Insurance in m EUR • Insurance sales: 172m EUR • Non-life sales (124m EUR) +5% y-o-y (+11% excl. FX), due to premium and volume growth in all classes • Life sales (47m EUR) roughly stabilised q-o-q (+2% e
Slide 33: Czech Republic BU (4) | Opex & impairments
Czech Republic BU (4) | Opex & impairments 33 of 67 Operating expenses Asset impairment Other impairments in m EUR in m EUR ECL for geopolitical & macroeconomic uncertainties Impairments on financial assets at AC and FVOCI 280 114 255 60 232 237 227 Bank & 0 0 35 insurance taxes 128 3 4 16 10 0 0 0
Slide 34: International markets BU (1) | Highlights
International markets BU (1) | Highlights 34 of 67 ROAC Net result 1Q24 Organic volume trend in m EUR 200 190 22% Total o/w retail Customer 178 20% of loans** mortgages deposits*** Allocated Capital 79 Volume (EUR) 28bn 11bn 32bn 146 90 67 Growth q-o-q* +1% +2% +1% 108 63 Bulgaria Growth y-o-y +8% +
Slide 35: International markets BU (2) | Slovakia
International markets BU (2) | Slovakia 35 of 67 Net result ROAC Volume trend in m EUR 1Q24 15% • Total customer loans roughly stabilised q-o-q and rose by 4% y-o-y 7% of (the latter due mainly to good growth in mortgage loans) Allocated Capital • Total customer deposits stabilised q-o-q and rose by
Slide 36: International markets BU (3) | Hungary
International markets BU (3) | Hungary 36 of 67 Net result ROAC • 10m EUR net loan loss impairment reversals in 1Q24 (versus 1m EUR net in m EUR 1Q24 loan impairment charge in 4Q23). Besides a 2m EUR net impairment 25% reversal for geopolitical & macroeconomic uncertainties, there were 8m 6% of EUR
Slide 37: International markets BU (4) | Bulgaria
International markets BU (4) | Bulgaria 37 of 67 Net result ROAC Volume trend in m EUR 1Q24 25% • Total customer loans rose by 3% q-o-q (due mainly to growth in 8% of mortgages and consumer loans) and by 13% y-o-y (due to growth in Allocated Capital all segments) 90 • Total customer deposits stabili
Slide 38: Group Centre BU | Highlights
Group Centre BU | Highlights 38 of 67 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 result from financial instruments at 351 fair value 11 KBC Ireland • Lower net other income 2 5 • No
Slide 39: Company profile | KBC Group in a nutshell (1)
Company profile | KBC Group in a nutshell (1) 39 of 67 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 40: Company profile | KBC Group in a nutshell (2)
Company profile | KBC Group in a nutshell (2) 40 of 67 High profitability (IFRS 17 figures) Solid capital position combined CET 1 ratio (fully loaded, Danish compromise) C/I ratio* ratio net result in % 49% FY23 87% FY23 3,402m FY23 17.1% 17.6% 49% FY22 2,818m FY22 15.8% 16.3% 16.0% 15.5% 15.4% 15.2
Slide 41: Company profile | KBC Group in a nutshell (3)
Company profile | KBC Group in a nutshell (3) 41 of 67 Dividend policy & capital distribution Shareholder structure (as at end 1Q24) • We aim to be amongst the better capitalised financial institutions in Other core MRBB* Europe. As a consequence, the Board of Directors decided: Treasury shares • Th
Slide 42: Company profile | Well-defined core markets
Company profile | Well-defined core markets 42 of 67 Belgium BU Czech Republic BU International Markets BU SK HU BG 61% of assets 119bn EUR loans 21% of assets 36bn EUR loans 4% of assets 4% of assets 5% of assets 4.0m clients 4.3m clients 0.8m clients 1.6m clients 2.2m clients 432 branches 198 bran
Slide 43: Strategy | Differently: the next level
Strategy | Differently: the next level 43 of 67 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 44: Strategy | Powered by PEARL
Strategy | Powered by PEARL 44 of 67 ‘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 45: Strategy | Bank-insurance+
Strategy | Bank-insurance+ 45 of 67 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 46: Strategy | The KBC performance diamond
Strategy | The KBC performance diamond 46 of 67 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 47: Kate | KBC's hyper personalised and trusted digital assistant
Kate | KBC’s hyper personalised and trusted digital assistant 47 of 67 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 48: Kate | Four flavours, one Kate
Kate | Four flavours, one Kate 48 of 67 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 49: Kate | A data-driven organisation with Kate at the core
Kate | A data-driven organisation with Kate at the core 49 of 67 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 50: Kate | From basic chatbot to hyper-personal digital assistant
Kate | From basic chatbot to hyper-personal digital assistant 50 of 67 … 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 51: Strategy | Translating strategy into non-financial targets
Strategy | Translating strategy into non-financial targets 51 of 67 Maximise customer experience • No hassle, no frills, zero-delay customer experience Customer NPS ranking • Proactive personalized financial solutions via DATA and AI • Re-design & automation of all Outperform on processes Go for ope
Slide 52: Strategy | KBC's non-financial targets (2023-2026)
Strategy | KBC’s non-financial targets (2023-2026) (update on a half-year basis) 52 of 67 Customer ranking Bank-insurance (BI) clients Digital sales BI clients Digital sales banking products* TARGET in % in % TARGET TARGET Top-3 Top-2 77% 83% 65% 2023 2026 52% • KBC is 3rd in customer NPS (Net Promo
Slide 53: KBC's ESG ratings and indices are ahead of the curve
KBC’s ESG ratings and indices are ahead of the curve 53 of 67 Agency ESG rating 23rd of April 2024 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 percentile o
Slide 54: Sustainability highlights
Sustainability highlights 54 of 67 Commitment to environmental action Sustainable business Social responsibility and governance 44bn EUR Responsible Investing Social bond Second progress report published on Issued a second social bond for the 2030 and 2050 climate targets funds in 1Q24 or 41% of tot
Slide 55: Direct environmental impact: our progress in brief
Direct environmental impact: our progress in brief 55 of 67 DIRECT environmental footprint (FY 2023) • Since 2015, we have been calculating the GHG emissions arising from our own operations at group More details in our 2023 Sustainability Report level, in accordance with the GHG Protocol Corporate A
Slide 56: Indirect environmental impact: our progress in brief
Indirect environmental impact: our progress in brief 56 of 67 INDIRECT environmental footprint (FY 2023) Loan portfolio (selection of sectors) reduction compared to 2021 baseline, otherwise indicated Mortgages and commercial Operational lease Agriculture • We refer to our Collective Commitment to Cl
Slide 57: Loan loss experience at KBC
Loan loss experience at KBC 57 of 67 Credit cost ratio* in %; Credit cost ratio: amount of losses incurred on troubled loans as a % of total average outstanding loan portfolio AVERAGE 1Q24 FY23 FY22 FY21 FY20 FY19 FY18 ‘99 –’23 Belgium BU 0.11% 0.06% 0.03% -0.26% 0.57% 0.22% 0.09% n/a Czech Republic
Slide 58: Diversified loan portfolio
Diversified loan portfolio 58 of 67 Total loan portfolio outstanding Total loan portfolio outstanding | by segment as % of total Group loan portfolio outstanding* Total loan portfolio outstanding Corporate 202bn EUR* 37.1% 40.8% Retail Group level Total loan portfolio outstanding | by sector 22.1% a
Slide 59: Loan portfolio breakdown by IFRS 9 ECL stage
Loan portfolio breakdown by IFRS 9 ECL stage 59 of 67 Total loan portfolio outstanding | by IFRS9 ECL Stage* Stage 3 ratio | Belgium BU as % of total Group loan portfolio outstanding in % 19.9% 2.3% 2.2% 2.1% 1.9% 2.0% 17.9% 13.6% 11.5% 12.5% Stage 2 FY20 FY21 FY22 FY23 1Q24 3.3% 2.9% 2.1% 2.1% 2.1%
Slide 60: Cover ratios
Cover ratios 60 of 67 Cover ratio | by IFRS9 ECL Stage* Stage 3 cover ratio | Belgium BU in % in % 45.6% 42.6% 39.6% 38.3% 37.8% 47.1% 47.1% 44.7% 44.7% 44.5% Stage 3 FY20 FY21 FY22 FY23 1Q24 Stage 3 cover ratio | Czech Republic BU 4.8% in % 2.2% 1.7% 1.4% 1.6% 48.7% 49.4% Stage 2 44.7% 45.2% 45.0%
Slide 61: Substantial and well-diversified government bond portfolio
Substantial and well-diversified government bond portfolio 61 of 67 • Carrying value of 55.0bn EUR in government bonds (excl. trading book) at end of 1Q24, primarily as a result of a significant excess liquidity position and the reinvestment of insurance reserves in fixed-income instruments • Carryi
Slide 62: Above resolution requirements in terms of MREL
Above resolution requirements in terms of MREL 62 of 67 MREL targets MREL actuals • The resolution plan for KBC is based on a Single Point of Entry • The MREL ratio in % of RWA increased from 30.7% in FY23 to 33.2% (SPE) approach at KBC Group level, with bail-in as the in 1Q24, driven mainly by the
Slide 63: Upcoming mid-term funding maturities
Upcoming mid-term funding maturities 63 of 67 Total outstanding | 1Q24 Recent deals in % KBC Bank has 6 solid sources of long-term funding: (i) Retail term deposits, (ii) • In Nov 2023, KBC Group issued a Senior Holdco benchmark for an amount of Retail EMTN, (iii) Public benchmark transactions, (iv)
Slide 64: Strong customer funding base
Strong customer funding base 64 of 67 • 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 compared to balan
Slide 65: Glossary
Glossary 65 of 67 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 66: Contacts / questions
Contacts / questions 66 of 67 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 67: Disclaimer
Disclaimer 67 of 67 • 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