KBC to sell stake in Nova Ljubljanska Banka

28 December 2012

KBC to sell stake in Nova Ljubljanska Banka

KBC has revealed plans to sell its stake in Nova Ljubljanska Banka (NLB).

The Belgian banking and insurance group holds a 22 per cent stake in the bank and is expected to offload this to Slovenia for €2.8 million ($3.7 million).

Such a move would represent one of the final remaining divestments as required by regulators in the European Union.

KBC is also seeking buyers for a number of its operations at present, including KBC Bank Deutschland, Antwerp Diamond Bank and KBC Banka, which is the group's Serbian unit.

But while hopes are high that an agreement can be reached with regard to KBC Banka, Johan Thijs, chief executive of KBC, said there is less optimism when it comes to the sale of assets for the other two businesses.

KBC explained that while the NLB would only have a minor impact on its capital, the group's fourth quarter results were likely to suffer a negative €100 million as a result of the transaction.

By Tony Aynsley

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