International Markets Business Unit
The International Markets Business Unit comprises the activities conducted by:
- ČSOB and ČSOB Poist’ovňa in Slovakia
- K&H Bank and K&H Insurance in Hungary
- UBB and DZI Insurance in Bulgaria
- KBC Bank Ireland
|Market position in 2019*|
|Insurance network||Various channels||Various channels||Various channels||-|
|Loan portfolio (in billions of EUR)||5||8||4||10|
|Deposits debt securities (in billions of EUR)||8||6||4||5|
|- Bank products||10%||10%||9%||9% (retail)|
|- Investment funds||13%||7%||16%||-|
|- Life insurance||3%||3%||23%||-|
- Non-life insurance
* Market shares and customer numbers: based on own estimates; when calculating the figure for customer numbers, account was taken of the overlap (roughly estimated) between the various companies in the group. Share for traditional bank products: average estimated market share for loans and deposits. Market share for life insurance: guaranteed-interest and unit-linked products (combined).
- To aim to move from a branch-oriented distribution model to an omnichannel one in the Central European countries. We are fully committed to implementing a ‘Digital First’ strategy in Ireland (see below).
- We want to target income growth in Hungary through vigorous client acquisition in all banking segments and through more intensive cross-selling, in order to raise our market share and our profitability. We aim to expand our insurance activities substantially, primarily through sales at bank branches and, for non-life insurance, via both online and traditional brokers. Simplifying products and processes is another key focus.
- We want to maintain our robust growth in strategic products in Slovakia (i.e. home loans, consumer finance, SME funding, leasing and insurance), partly through cross-selling to ČSOB group clients. Simplifying products and processes is another key focus too.
- We will focus – as regards the banking business in Bulgaria – on substantially increasing our share of the lending market in all segments, while applying a strict risk framework. The acquisition of United Bulgarian Bank in June 2017 should further support this growth. Our insurer, DZI, already commands a significant share of the market and our aim remains to grow faster than the market in both life and non-life insurance, via the bank and other channels. In this regard, KBC signed an agreement at the end of 2017, under which the group acquired the remaining 40% stake in UBB-MetLife Insurance Company AD, roughly doubling its share of the life insurance market in the process.
- We will implement a ‘Digital First’ strategy and create an outstanding client experience in Ireland, which became a fully fledged core country in 2017. We aim to differentiate ourselves through the instant and proactive delivery of products and services and through a high level of accessibility (including mobile and contact centre). ‘Core country’ status also means that we aim to achieve a market share of at least 10% in the retail and micro-SME segments and to focus fully on bank-insurance in the same way as we do in our other core markets. We will offer insurance products through partnerships and co-operation agreements.
- We want to implement a socially responsible approach in all countries, with a particular focus on environmental awareness, financial literacy, entrepreneurship and health.
Last update: 14-02-2020