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KBC Bank Deutschland AG Wachtstraße 16 28195 Bremen, Germany http://www.kbcbank.de
Contact Mr Wim Allegaert +32 2 429 40 51
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KBC Bank Deutschland AG

KBC group closes the sale to Precision Capital of its private banking subsidiary KBL epb

(PresseBox) (Brussels, )
Today, KBC group ("KBC") finalised the sale, announced on 10 October 2011, of its private banking subsidiary KBL European Private Bankers ("KBL epb") to Precision Capital S.A. ("Precision Capital") for a total consideration of approximately EUR 1 billion. The sale is expected to release a substantial amount of capital (approximately EUR 0.7 billion) for KBC, increasing its tier-1 ratio by 0.7 %.

KBL epb is one of Europe's largest onshore private banking groups with affiliated local banks in numerous locations across nine European countries: Belgium, France, Germany, Luxembourg, Monaco, the Netherlands, Spain, Switzerland and the United Kingdom.

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