Pursuant to the Resolution of the Banking Supervision Commission KBC Bank N.V. has a right to exercise no more than 75% of votes at the General Assembly of Kredyt Bank S.A.
Bank shares are not preferred and therefore, the number of shares held is equal to the number of votes at the General Assembly of Shareholders.
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KBC is the second largest bancassurance player in Belgium.It is a top-20 player in Europe and top-3 player in Central and Eastern Europe. Over the past decade, KBC has built up a strong presence in many of the countries that joined the EU on 1 May 2004 (Poland, Hungary, the Czech and Slovak Republics, Slovenia).
KBC’s headquarters are located in Brussels (Belgium), the heart of Europe. In 2006, KBC had market shares in Belgium of between 20 and 25% in banking and of approximately 15% in life insurance, 9% in non-life insurance (in each case, based on premium income) and 34% in asset management.
KBC is a multi-channel bancassurer with a geographic focus on Europe. It caters mainly for retail and private banking customers and small and medium-sized enterprises. KBC provides banking, insurance and asset management products via its integrated distribution channel consisting of bank branches, insurance agents/brokers and the Internet. Moreover, KBC is active in private equity, corporate banking, leasing, factoring, re-insurance, insurance, brokerage, project and trade finance. It also has an extensive private banking network (in eight Western European countries).
KBC has, more recently, made acquisitions in Bulgaria (DZI Insurance, DZI Invest en EIBANK), Romania (KBC Securities (former Swiss Capital), Romstal Leasing and INK Insurance Broker), Serbia (A Banka) and Russia (Absolut Bank).
The KBC group is present in more than 30 countries worldwide, employs 53 000 staff (nearly 27 000 of whom in Central and Eastern Europe) and caters for 11 million customers (some 7 million in Central and Eastern Europe).
KBC is a solid and fast-growing financial group. It is listed on EURONEXT Brussels and the Luxembourg Stock Exchange (ticker symbol ‘KBC’). KBC Group‘s market value (market capitalisation) has more than tripled during the past four years, from 10 billion at the end of 2003 to around 34 billion euros today.
