Brief history of the KBC Group

  • Two Belgian banks (the Kredietbank and CERA Bank) and a Belgian insurance company (ABB) merge to create the KBC Bank and Insurance Holding Company.
  • KBC’s unique bancassurance model is launched in Belgium
  • The group embarks upon its policy of expansion in Central and Eastern Europe with the acquisition of ČSOB (in the Czech Republic and Slovakia).
  • The group continues to expand its position in the banking and insurance markets of Central and Eastern Europe by acquiring banks and insurance companies in Poland, Hungary, the Czech Republic and Slovakia, becoming one of the top three players in the region’s financial sector.
  • The bancassurance model is gradually introduced to the home markets in Central and Eastern Europe.
  • The KBC Bank and Insurance Holding Company merges with its parent company (Almanij) to create KBC Group NV. The benefits to the group include the addition of a network of European private banks.
  • KBC’s presence in Central and Eastern Europe is stepped up through acquisitions in Bulgaria, Romania and Serbia.
  • KBC establishes a presence on the Russian banking market
  • Add-on acquisitions/greenfield operations in various countries
  • Capital transactions and guarantee agreements with the government (in 2008 and 2009).
  • Renewed strategy focuses on home markets in Belgium and five countries in Central and Eastern Europe (the Czech Republic, Slovakia, Hungary, Poland and Bulgaria)
  • Start of divestment programme
  • Strategic plan is amended (including planned sale of activities in Poland)
  • Further execution of divestment programme
  • Divestment program completed
  • Adjusted strategy and objectives announced on our Investor Day
  • KBC repays all outstanding debt to government before the end of the year
  • Update of corporate sustainability strategy
  • Acquisition of UBB and Interlease in Bulgaria
  • Acquisition of remaining part in CMSS in the Czech Republic
  • KBC shifts digital transformation and customer experience up a gear with updated strategy ‘Differently: the Next Level’
  • Acquisition of OTP Banka Slovensko in Slovakia
  • Acquisition of NN’s Bulgarian pension insurance and life insurance businesses. 
  • Agreement to dispose of substantially all of the non-performing mortgage loan portfolio of KBC Bank Ireland and agreement relating to the sale of substantially all of KBC Bank Ireland’s performing loan assets and its deposit book. The finalisation of both pending deals will ultimately lead to KBC withdrawing from the Irish market
  • Acquisition of Raiffeisenbank (Bulgaria) in Bulgaria
  • Finalisation sale of KBC Bank Ireland
  • Merger Raiffeisenbank (Bulgaria) and UBB

Last update: 30-06-2023