The consolidated financial statements of KBC Group have been prepared in accordance with the IFRS Accounting Standards as adopted by the European Union (‘endorsed IFRS’).
Financial guidance at KBC Group level (2024)
The table shows the comparison of KBC Group's medium-term financial guidance and results, both relating to the past full financial year (2024).
KBC Group's financial guidance has since been updated. You can find the latest guidance at About us/our strategy/sustainable and profitable growth.
| Financial guidance and regulatory requirements and results, for 2024 | by | recent value (FY2024) |
|
|---|---|---|---|
| CAGR net interest income | ≥ 1.8% (GAGR 2023-2026) | 2026 |
+1.8% in 2024 |
| CAGR insurance revenus before reinsurance | ≥ 6% (GAGR 2023-2026) | 2026 |
+10% in 2024 |
| CAGR operating expenses incl. paid insurance commissions (excl. bank and insurance tax) | < 1.7% (GAGR 2023-2026) | 2026 | +1.6% in 2024 |
| Cost/income ratio excl. bank and insurance tax | < 42% | 2026 | 43% |
| Combined ratio | < 91% | - |
90% |
| Dividend payout ratio (incl. coupon paid on AT1) | ≥ 50% | - | 51% |
| Credit cost ratio | Well below the ‘through-the-cycle’ credit cost of 25-30 basis points | through the cycle | 10 basis points |
| Regulatory requirements or own target and regulatory requirements and results, for 2024 | by | recent value (FY2024) |
|
|---|---|---|---|
| Common equity tier-1 ratio* | Overall capital requirement: 10.88% |
- | 15.0% |
| MREL ratio (minimum requirement for own funds and eligible liabilities) | ≥ 28.48% of risk weighted assets (RWA) (’24) ≥ 7.42% of leverage ratio exposure (LRE) (’24) |
2024 | 30.7% (RWA) 10.2% (LRE) |
| NSFR (net stable funding ratio) | ≥ 100% | - | 139% |
| LCR (liquidity coverage ratio) | ≥ 100% | - | 158% |
* Fully loaded, Danish compromise
Dividend and capital distribution policy
- Dividend policy as of 2025:
- Payout ratio (including AT1 coupon) between 50% and 65% of consolidated profit of the accounting year;
- Interim dividend of 1 euro per share in November of each accounting year as an advance on the total dividend
- Capital deployment policy as of 2025:
- We aim to remain amongst the better capitalised financial institutions in Europe;
- Each year (when announcing the full-year results), the Board of Directors will take a decision, at its discretion, on the capital deployment. The focus will predominantly be on further organic growth and M&A;
- We see a 13% unfloored fully loaded common equity ratio as the minimum;
- We will fill up the AT1 and Tier 2 buckets within P2R and will start using SRTs (as a part of a risk-weighted assets optimisation programme).
Financial guidance versus achievements