KBC Bank meets new EBA capital target

KBC Bank confirms that, based on the information of the European Banking
Authority, it meets the new capital target as announced on 26 October 2011. The
EBA announced that European banks must meet a 9% threshold for their core Tier
1 ratio under the EBA definition* which includes valuing sovereign bond holdings
at market rates. Based on the EBA press release, KBC Bank meets this 9% core
Tier 1 ratio threshold.
Should these stress tests also have been applied to KBC Group as a whole, also
KBC Group would meet the 9% core Tier-1 ratio threshold.
 
On 10 November 2011 KBC will announce its full third quarter results.
 
Today, KBC can already confirm that it has responded to market developments in
recent months by further reducing in an efficient manner its government bond
exposure to PIIGS countries from 9.6 billion euros as per 30 June 2011 to 6.7
billion euros as per 30 September 2011. Since 30 September 2011 KBC stayed alert
to further market developments and further reduced its exposure with a nominal
amount of 1.6 billion euros.
 
EBA_27102011_ENG: 
http://hugin.info/133947/R/1558645/481682.pdf
 
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Source: KBC Groep via Thomson Reuters ONE
 
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