KBC bank and insurance company with its main operations carried out in Belgium and Czech Republic announced on Thursday its 2015 results. With a net profit of 2,639 billion euros, the results mark a substantial increase from its 2014 profits of 1,762 billion euros.
In a communication release, KBC indicated that “the volume of loans and insurances increased in both countries” where it operates.
KBC has also benefited from a low credit cost (0,23% of its portfolio) as well as good dynamic conditions in central Europe.
In 2016 KBC rebranded their Brussels branches to KBC Brussels with the strategic aim to customize its operations to their Brussels clients.
The annual result for its Belgian operation stands at 1,564 billion euros and in Czech Republic 542 million euros.
Oscar Schneider (Source: Belga)