Skip to Content
Global News Select

KBC Group Shares Slip After Cut to Annual Interest Income Target

By David Sachs


KBC Group shares dropped Thursday after the bank insurer lowered one of its full-year targets.

At 0922 GMT, shares in the Belgium company were down 3.7% to EUR49.90.

The company said it now expects net interest income for 2023 of around 5.40 billion euros ($5.78 billion), down from the original projection of about EUR5.60 billion. KBC blamed effects from a government retail bond issue, increased minimum reserve requirements from various central banks and lower customer deposits.

Net profit for the group rose to EUR877.0 million from EUR752 million in the third quarter of last year, KBC said. Analysts had expected a net profit of EUR827 million.


Write to David Sachs at


(END) Dow Jones Newswires

November 09, 2023 04:43 ET (09:43 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Market Updates

Sponsor Center