Kbc Group N.v. · EURONEXT:KBC
Kbc — FY2025 Earnings Presentation
44 slides from Kbc's earnings presentation, February 2026
Slide 1: KBC Group Press presentation 4Q / FY 2025
1 KBC Group Press presentation 4Q / FY 2025 Johan Thijs, KBC Group CEO Bartel Puelinckx, KBC Group CFO More information: www.kbc.com KBC Group - Investor Relations Office: IR4U@kbc.be
Slide 2: Highlights
Highlights • Commercial bank-insurance franchises performed excellently Net result of 1,003m EUR over 4Q25 2 • KBC Group is well-positioned being an integrated bank-insurer with tailored AM business that has a highly diversified income (50% NII and 50% non-NII of FY25 total income) NET RESULT in m E
Slide 3: Excellent contribution from all business units
Excellent contribution from all business units 3 Net result per business unit in m EUR BU BE BU CZ BU IM 674 607 589 237 237 487 238 240 244 231 205 207 90 94 175 72 Bulgaria 281 135 85 66 122 112 116 Hungary 65 35 26 34 25 31 Slovakia 17 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2
Slide 4: Strategic focus | Sia Partners again ranked KBC Mobile the N°1 mobile banking app
Strategic focus | Sia Partners again ranked KBC Mobile the N°1 mobile banking app worldwide 4 Unique integrated bank- Successful digital-first Firmly embedded insurance model approach through KATE sustainability strategy • We offer an integrated response to our clients’ • Our digital interaction wit
Slide 5: Strategic focus | The reference
Strategic focus | The reference 5 Profitability With a Return on Tangible Equity of 16% in FY25 KBC is one of the most profitable EU financial institutions Solvency With an unfloored fully loaded CET1 ratio of 14.9% at end FY25 KBC is amongst the better capitalised EU banks At KBC it is our ambition
Slide 6: Much higher net interest income q-o-q, resulting in higher than guided FY25 NII
Much higher net interest income q-o-q, resulting in higher than guided FY25 NII 6 NET INTEREST INCOME NET INTEREST MARGIN* in m EUR in %, calculated excluding dealing room, ALM FX swaps & repos 1,608 1,527 1,433 116 Insurance 112 106 Banking 1,415 1,493 2.08% 2.05% 2.11% 1,326 (incl. Holding) 4Q24 3
Slide 7: Inflow of core customer money
Inflow of core customer money 7 CUSTOMER MONEY DYNAMIC OVER 4Q25 CUSTOMER MONEY DYNAMIC OVER FY25 in bn EUR in bn EUR +4.5bn EUR +13.0bn EUR +2.9bn EUR -7.5bn EUR +9.8bn EUR +0.7bn EUR +6.0bn EUR 0.0bn EUR -2.9bn EUR -1.2bn EUR +3.8bn EUR +6.0bn EUR +0.4bn EUR +1.3bn EUR +2.7bn EUR -0.6bn EUR 30SEP2
Slide 8: Higher net fee and commission income, record-high net inflows in direct client money
Higher net fee and commission income, Record-high net inflows in direct client money in FY25 8 NET FEE & COMMISSION INCOME ASSETS UNDER MANAGEMENT in m EUR in bn EUR 700 707 725 300 292 11 12 16 Other 276 Investment 66 68 62 advice 304 305 292 Banking services 80 82 Fund-of-Funds 77 Group assets & 2
Slide 9: Non-life sales up y-o-y, excellent life sales
Non-life sales up y-o-y, excellent life sales (up q-o-q and y-o-y) 9 NON-LIFE SALES LIFE SALES in m EUR in m EUR 1,065 77 Hybrid products 653 654 843 591 61 Guaranteed- 730 507 Interest 67 products 4Q24 3Q25 4Q25 362 • Up by 11% y-o-y, with growth in all countries and all main classes, due to a 401
Slide 10: FIFV & IFIE result up q-o-q and net other income below the normal run rate
FIFV & IFIE result up q-o-q and net other income below the normal run rate 10 FIFV & IFIE NET OTHER INCOME in m EUR in m EUR 4Q24 3Q25 4Q25 Dealing room 66 53 56 MVA/CVA/FVA -6 5 -6 47 IFIE – mainly 39 -66 -69 -72 interest accretion 27 M2M ALM derivatives and -68 -51 1 other 4Q24 3Q25 4Q25 FIFV & IF
Slide 11: Costs excluding bank & insurance taxes increased q-o-q, in line with guidance
Costs excluding bank & insurance taxes increased q-o-q, in line with guidance 11 OPERATING EXPENSES (INCLUDING COSTS DIRECTLY COST/INCOME RATIO ATTRIBUTABLE TO INSURANCE) When excluding bank and insurance taxes in m EUR 1,257 1,275 1,192 FY24 FY25 55 51 Bank & 49 insurance taxes 43% 41% Operating 1,
Slide 12: Overview of bank & insurance taxes
Overview of bank & insurance taxes* 12 KBC GROUP KBC Group BELGIUM BU in m EUR 666m EUR in m EUR BU BE 12.7% 356m EUR 539 12.2% 356 518 of FY25 opex** 317 17 of FY25 opex** 0 Resolution Fund* 27 Resolution Fund 0 contribution contribution Common bank & Common bank & 356 491 523 317 insur. taxes insu
Slide 13: Higher net loan loss impairment charges & excellent credit cost ratio
Higher net loan loss impairment charges & excellent credit cost ratio Higher impairments on ‘goodwill’ and ‘other’ 13 Other impairments ASSET IMPAIRMENT ECL for geopolitical and macroeconomic uncertainties CREDIT COST RATIO in m EUR; negative sign is a release Impairments on financial assets at AC a
Slide 14: Strong capital position with substantial buffer
Strong capital position with substantial buffer 14 CET1 ratio in % 15.5 15.4 15.2 15.0 14.6 14.9 14.9 Unfloored fully loaded B4 common equity 14.5 ratio amounted to 14.9% at the end of FY25 based on the Danish Compromise 10.87% Overall Capital Requirement (OCR) The 365.bank acquisition was closed on
Slide 15: Leverage ratio, liquidity ratios and Solvency II ratio
Leverage ratio, liquidity ratios and Solvency II ratio 15 LEVERAGE RATIO | KBC GROUP LIQUIDITY RATIOS | KBC GROUP SOLVENCY II RATIO | KBC INSURANCE fully loaded in % in % Leverage LCR NSFR Solvency II ratio ratio 5.6% FY25 159% FY25 138% FY25 227% FY25 5.5% FY24 158% FY24 139% FY24 200% FY24 Q-o-q l
Slide 16: Wrap-up
Wrap-up 16 Excellent financial Outstanding solvency Kate convinces Franchise is growing performance and liquidity customers net result loan customer CET1 ratio 6.0 million 1,003m volumes deposits 4Q25 14.9% users 3,568m 3.9% buffer in contact +7% +2% vs MDA with Kate y-o-y y-o-y FY25 return on NSFR
Slide 17: Looking forward | Where are we coming from? Current baseline
Looking forward | Where are we coming from? Current baseline 17 Observing KBC’s current market guidance over the 2024-2027 horizon, • On Total income, combining the +7.5% guided y-o-y growth into 2025 with the +6.0% guided CAGR24-27 implied a projected annual growth of Total income of +5.3% for 2026
Slide 18: Looking forward | Changing elements and assumptions going into 2026
Looking forward | Changing elements and assumptions going into 2026 18 Beyond business development, the underlying P&L evolution that was indicated in last year’s long-term guidance is being impacted in two material ways: • FX impact • Both CZK and HUF have moved on an appreciation trajectory that i
Slide 19: Looking forward | FY26 OpEx and Total income guidance
Looking forward | FY26 OpEx and Total income guidance 19 TOTAL INCOME | DRIVERS TOWARDS 2026 Clearly, both M&A and FX effects have a benign impact on Total +9.9% income, while negatively impacting the Operating Expenses line. +6.8% +7.8% For full transparency, we show the expected impacts broken dow
Slide 20: Looking forward | FY26 financial guidance
Looking forward | FY26 financial guidance 20 Our bank-insurance model is firing on all cylinders Note: all growth figures are based on reported 2025 figures 2026, organic growth 2026, full scope Total income at least +6.8% y-o-y at least +9.9% y-o-y Net interest income* at least 6,500m EUR at least
Slide 21: Looking forward | FY28 financial guidance
Looking forward | FY28 financial guidance 21 Our bank-insurance model is firing on all cylinders Note: all growth figures are based on reported 2025 figures 2028 Total income* CAGR25-28 at least +7.7% Net interest income** CAGR25-28 at least +8.6% Jaws at least +3.4% Insurance revenues* (before rein
Slide 22: Wrap-up | Digital-first, data-driven and AI-led integrated bank-insurer with tailored AM
Wrap-up | Digital-first, data-driven and AI-led integrated bank-insurer with tailored AM 22 Well-diversified, both geographically and from a business point of view • geographically … • Mature markets (BE, CZ) combined with growth markets (SK, HU, BG) • Robust market position in all key markets & str
Slide 23: Strategy | KBC's non-financial targets (2023-2026)
Strategy | KBC’s non-financial targets (2023-2026) 23 Customer ranking Bank-insurance (BI) clients Digital sales BI CLIENTS DIGITAL SALES BANKING PRODUCTS* TARGET in % TARGET in % TARGET Top-3 Top-3 Top-3 Top-2 * 83% 65% 2023 2024 2025 2026 76% 76% 76% 52% 55% 57% • KBC is 3rd in customer NPS (Net P
Slide 24: Company profile | KBC Group in a nutshell (3)
Company profile | KBC Group in a nutshell (3) 24 Dividend policy & capital distribution Shareholder structure (as at end 2025) The Board of Directors decided: MRBB Other core Treasury shares Cera 12.4% 7.0% • the dividend policy as from 2025: 5.0% • A payout ratio (including AT1 coupon) between 50%-
Slide 25: Acquisition of 365.bank in Slovakia closed on 15 January 2026
Acquisition of 365.bank in Slovakia closed on 15 January 2026 (Below, you can find the slide provided at signing/initial agreement) 25 KBC has agreed to acquire (in cash) 98.45% of 365.bank in Slovakia, based on a total value for 365.bank of 761m EUR Indisputable strategic rationale Strong financial
Slide 26: Acquisition of Business Lease in Czech Republic and Slovakia closed 10 February 2026
KBC strengthens its position in Central Europe with the acquisition of Business Lease in the Czech Republic and Slovakia, closed on 10 February 2026 26 (Below, you can find the slide provided at signing/initial agreement) KBC has agreed to acquire Business Lease Czech Republic and Business Lease Slo
Slide 27: Kate | Four flavours, one Kate
Kate | Four flavours, one Kate 27 Kate4Retail & mSME Kate4Business Kate Group Platform Kate4Commercial Employees Kate is a personal virtual Kate also engages with our SME We do not build Kate for every Kate also has an impact on our assistant that engages with our and corporate clients and country i
Slide 28: Kate | A data-driven organisation with Kate at the core
Kate | A data-driven organisation with Kate at the core 28 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, marketin
Slide 29: KBC's ESG ratings and indices are ahead of the curve
KBC’s ESG ratings and indices are ahead of the curve 29 Agency ESG rating end-of-year 2025 Position versus industry D- A • Leader in addressing climate change • CDP’s A list for Climate • B-score on Forests and Water Security A • Score date: December 10, 2025 Severe Risk High Risk Medium Risk Low Ri
Slide 30: Sustainability highlights (FY2024)
Sustainability highlights (FY2024) 30 Commitment to the environment Sustainable business Social responsibility Two new thematic White Papers CSRD Reporting 7.4 billion euros in social sectors This year, we developed two new internal We published our first Sustainability In 2024, we financed 6.17 bil
Slide 31: Own environmental impact: our progress in brief
Own environmental impact: our progress in brief 31 Own environmental footprint (FY 2024) More details in our 2024 Sustainability Report • Since 2015, we have been calculating the GHG emissions arising from our own operations at group level, in accordance with the GHG Protocol Corporate Accounting an
Slide 32: Indirect environmental impact: our progress in brief
Indirect environmental impact: our progress in brief 32 INDIRECT environmental footprint (FY 2024) Loan portfolio (selection of sectors) Carbon-intensity reduction compared to 2021 baseline, otherwise indicated Operational lease Renewable energy • We refer to our Collective Commitment to Climate Act
Slide 33: FY25 | Highlights
FY25 | Highlights 33 NET RESULT Net result rose by 4% y-o-y from 3,415m EUR in 2024 to 3,568m EUR in 2025, mainly as a result of the in m EUR following: • Revenues rose by 9% y-o-y due mainly to higher net interest income, higher net fee and commission +4% income, higher insurance revenues (both lif
Slide 34: FY25 | Overview of building blocks of the net result
FY25 | Overview of building blocks of the net result 34 NET RESULT | FY25 BUILDING BLOCKS in m EUR 12.200 -163 307 3.201 -4.706 2.789 -2.512 -75 -334 6 -1.010 3.568 6.065 NII NFCI Insurance FIFV & IFIE Other Total Opex (excl ISE Net result Impairments Other Income FY25 Net revenues Income Income dir
Slide 35: FY25 | Higher net interest income (better than guided) and NIM
FY25 | Higher net interest income (better than guided) and NIM 35 NET INTEREST INCOME NET INTEREST MARGIN in m EUR in % 6,065 5,574 452 Insurance NII 417 -0.01%* +9% 2.09% 2.07% 5,614 Banking NII (incl. Holding) 5,157 FY24 FY25 • Decreased by 1* bp y-o-y as the increase in the interest-bearing asset
Slide 36: FY25 | Higher net fee and commission income and higher AUM
FY25 | Higher net fee and commission income and higher AUM & Record-high net inflows in direct client money 36 NET FEE & COMMISSION INCOME ASSETS UNDER MANAGEMENT in m EUR in bn EUR 2,789 300 2,578 54 276 Other Investment 49 68 +8% 62 +9% advice 1,187 Banking services 1,108 82 Fund-of-Funds 77 Group
Slide 37: FY25 | Non-life sales significantly up y-o-y
FY25 | Non-life sales significantly up y-o-y 37 NON-LIFE SALES COMBINED RATIO (NON-LIFE) in m EUR in % +9% 2,769 90% 87% 2,547 FY24 FY25 2024 2025 • Up by 9% y-o-y, with growth in all countries and all classes, due to a combination • Non-life combined ratio for FY25 amounted to an excellent 87% (90%
Slide 38: FY25 | Life insurance sales significantly up y-o-y
FY25 | Life insurance sales significantly up y-o-y 38 LIFE SALES LIFE VALUE OF NEW BUSINESS (VNB*) in m EUR in m EUR 3,576 274 Hybrid products 7.3% 7.6% VNB/PVNBP** 2,906 197 +23% 1,501 Guaranteed interest products +13% 1,219 338 299 1,801 Unit-linked products 1,490 FY24 FY25 FY24 FY25 • Life sales
Slide 39: FY25 | Slightly higher FIFV result and higher net other income
FY25 | Slightly higher FIFV result and higher net other income 39 FIFV & IFIE NET OTHER INCOME in m EUR in m EUR Dealing room 294 Dealing room 246 MVA/CVA/FVA -24 -3 MVA/CVA/FVA 230 IFIE – mainly -249 -274 IFIE - mainly interest accretion interest accretion 181 M2M ALM der. and Other -132 M2M ALM de
Slide 40: FY25 | Costs in line with guidance
FY25 | Costs in line with guidance 40 OPERATING EXPENSES (INCLUDING COSTS DIRECTLY BANK AND INSURANCE TAXES ATTRIBUTABLE TO INSURANCE) in m EUR in m EUR FY25 FY24 5,097 5,265 BE BU 356 285 623 666 Bank & insurance tax CZ BU 24 40 Hungary 259 245 +3% Slovakia 10 34 Bulgaria 14 21 4,474 4,599 Operatin
Slide 41: FY25 | Net loan loss impairment charges & excellent credit cost ratio
FY25 | Net loan loss impairment charges & excellent credit cost ratio 41 ASSET IMPAIRMENT CREDIT COST RATIO in m EUR; negative sign is a release in bps 248 13 334 49 10 61 Other impairments 333 Impairments on financial 290 assets at AC and FVOCI FY24 FY25 -17 ECL for geopolitical and -134 macroecono
Slide 42: We put our clients centre stage
42 We put our clients centre stage as they keep counting on us to help them realise and protect their dreams. We do this proactively and work together to support the society and create sustainable growth. We are genuinely grateful for the confidence they put in us. I would like to explicitly thank o
Slide 43: Glossary
Glossary 43 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 premiums insurance) received, net of reinsurance] Common equity ratio [common eq
Slide 44: Disclaimer
Disclaimer 44 • 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 incomplete. KB