KBC Group NV · Brussels Belgium ·(Euronext Brussels: KBC)
Company Description
Phone: +32-78-152-154
Fax: +32-2-429-44-16
Rankings
- #171 in FT Global 500
- Euronext 100
- LuxX
- BEL20
View KBC Group NV Locations On A US Map
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This link will open in a new window Neither a purveyor of fried chicken nor an ominous Russian spy shop, KBC Group is actually one of Belgium's largest financial services firms. The company operates more than 900 bank branches in Belgium and another 1,200 in Central and Eastern Europe, providing insurance, asset management, private banking, and other services. It has still more operations in Western Europe, the US, and Southeast Asia. The bank is organized into four primary business units: Belgium; Central and Eastern Europe and Russia; Merchant Banking; and European Private Banking. In 2009 KBC received its third government bailout upon reporting losses related to its portfolio of toxic investments. To read the full description, subscribe now.
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Key KBC Group NV Financials
| Company Type | Public - Euronext Brussels: KBC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $13,137.9 |
| 2007 Employees | 57,000 |
KBC Group NV Executives
31 executives listed for KBC Group NV's Brussels, location.
| Title | Name & Bio | Contact |
| Chairman | Jan Huyghebaert | Network |
| Vice Chairman | Philippe Vlerick | Network |
| President, CEO, and Director | Jan Vanhevel | Network |
Competition
Competitive Landscape for KBC Group NV
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top KBC Group NV Competitors
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