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KBC Group SA/NV KBC

Rating as of

Morningstar’s Analysis

Valuation
Currency in EUR
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

KBC Is an Exemplary Capital Allocator

Johann Scholtz, CFA Equity Analyst

Analyst Note

| Johann Scholtz, CFA |

We believe that KBC allocates capital in an exemplary fashion. KBC has a very strong balance sheet. It invests in the business areas where it has a competitive advantage, and it exits business where it does not have an edge. When KBC cannot invest capital profitably, it will return surplus capital to shareholders. We maintain our EUR 62.50 fair value estimate and our narrow economic moat rating.

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Company Profile

Business Description

KBC was formed in 1998 by the merger of Belgian commercial bank Kredietbank, cooperative farmers bank CERA Bank, and cooperative insurer ABB Verzekering. KBC offers banking, insurance, and investment products. Belgium and the Czech Republic account for bulk of KBC's profits, while the bank has smaller operations in Hungary, Slovakia, and Bulgaria.

Contact
Havenlaan 2
Brussels, 1080, Belgium
T +32 78353137
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 37,137