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KBC Group : KBC Group repays 2011/2012 LTRO to ECB


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-01-25 08:10:51 -

Press Release

Outside trading hours - Regulated information*

Brussels, 25 January 2013

KBC Group NV has decided to repay its three-year Long-Term Refinancing Operation
(LTRO)  to the  European Central  Bank (ECB)  in the  first quarter 2013, for an
amount totalling 8.3 billion euros.

Luc   Popelier,   KBC  Group  CFO  welcomed  today's  announcement:  "Given  the
substantially  improved condition of the wholesale funding market and KBC's very
solid  liquidity position,  we decided  to repay  the LTRO.  KBC boasts a strong
retail  and corporate deposit base in our core markets and our wholesale funding
needs  for 2013 are well advanced in terms of coverage. After three weeks in the
new year, we 
have already covered a quarter of our needs." Background In December 2011 KBC Group NV took up 3.5 billion euros under the ECB system (with a maturity of three years and interest rate of 0.75%) almost exclusively for KBC Bank Ireland, and with underlying Irish collateral, to make the subsidiary - which only has limited deposit gathering capacity - less dependent on funding from within KBC Bank. In February 2012 KBC Group made further use of the ECB's LTRO (for an amount of 5.4 billion euros) and took part in the second round of the LTRO to further enhance its funding maturity structure. For further information, please contact: Wim Allegaert, General Manager, Investor Relations, KBC Group Tel +32 2 429 40 51 E-mail wim.allegaert@kbc.be Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC Group Tel +32 2 429 85 45 E-mail pressofficekbc@kbc.be KBC press releases are available at www.kbc.com or can be obtained by sending an e-mail to pressofficekbc@kbc.be *This news item contains information that is subject to the transparency regulations for listed companies KBC_LTRO_repayment_ECB: hugin.info/133947/R/1673126/544602.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: KBC Groep via Thomson Reuters ONE [HUG#1673126]


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