Despite its status as a relative newcomer to the markets of eastern and central Europe, KBC is rapidly making up for lost time.
Over the past four years, the Belgian bank has spent more than e2 billion ($2.18 billion) on strategic stakes in banks and insurers from around the region. In the process, KBC has demonstrated just what happens when deep pockets are drawn on to address pressing commercial imperatives.
“As a mid-sized European bank, there was an awareness among directors of the need to expand our domestic customer base,” says Herman Agneessens, KBC’s Brussels-based executive committee member.
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