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Awards

World's best bank transformation 2017: KBC

Few people would have expected a firm following a bancassurance model with operations in the eastern bloc to be among Europe’s best-performing financial institutions. But that is what KBC has achieved.

Awards for Excellence 2017

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© 2017 Euromoney 

Also shortlisted 

   KEB Hana Bank

   Lloyds Banking Group

   UniCredit

Press release 

Full results 

If you were planning to write a case study on how a bank that was once close to collapse was able, relatively quickly, to turn itself into one of the developed world’s best performers, then you would struggle to find a better subject than KBC.

Remember that KBC was also a poster-child for what went wrong with the global banking system before the financial crisis of 2008. 

Here was a bank that had forgotten its strong roots in northern and eastern Europe and embarked on a strategy to become a global bank. One that had a host of assets in Asia, including in curious areas such as Japanese equities and a Chinese mutual fund; sprawling assets from Latvia to Romania; and most ruinously of all, a US structured products business that eventually wiped billions from the bank’s bottom line. 

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