- 'Black Swan' Shuns Public Life Because of Bernanke
- Look Ahead: Markets Count Down to US Jobs Report
- FHA to Toughen Mortgage Rules in Lenders Crackdown
- Obama to Send More Troops; Seeks Afghanistan Exit
- GM Removes CEO Henderson; Whitacre Is Interim Chief
- UK Economy Turned, Inflation to Spike: BoE Economist
- Who Were the Biggest Winners And Losers This Year?
- GE, Comcast Complete Deal Over NBC Universal: Source
- Case Closed but Woods Scrutiny Continues
- Unemployment to Peak at 10.5%: Moody's Economist
- 8 Stocks to Gain on Obama's Afghan Plan: Analysts
- BofA On Proposed Changes In The Housing Bailout Program
- The Future of The Media Landscape
- November Auto Sales Muddle Along
- Busch: What Obama Won't Say Tonight
- Stick with Equities—Avoid Emerging Markets: Laszlo Birinyi
- Pfizer Chomps On A Carrot
- Predictions 2010: Technology
MOST SHARED
- Keeping America Great
- Cisco Has 84% of Tandberg, Won't Extend Bid
- Kohlberg Kravis Bidding for Morgan Stanley's CICC Stake
- Case Closed but Woods Scrutiny Continues
- UK Economy Turned, Inflation to Spike: BoE Economist
- Australia Regulator Opposes Caltex-Exxon Deal
- Hyundai's US Auto Sales Jump 46% in November
- Toyota Takes Lead Position in Canada in November
Text Size 
BRUSSELS, Nov 7 (Reuters) - Belgian banking and insurance group KBC will have to shrink its balance sheet by about 25 percent over the course of several years in an EU-ordered restructuring, daily De Tijd said on Saturday. KBC is one of many banks which have submitted restructuring plans to the European Commission, the EU's executive arm, and will be asked to divest certain assets in return for receiving state aid. Citing politicians familiar with the talks, De Tijd said the bank was close to a deal with the European Commission, and that a split of the group into a separate banking and insurance arm -- as asked of Dutch peer ING -- was not part of the plan. It was likely that the group would likely sell its private banking unit KBL European Private Bankers, with JP Morgan already gauging buyer interest. KBC would probably also divest its insurance unit Fidea and its Belgian retail bank Centea, De Tijd said, as well as non-core activities in eastern Europe and Absolut Bank in Russia. (Reporting by Antonia van de Velde; editing by Chris Pizzey) Keywords: KBC/ (antonia.vandevelde@thomsonreuters.com; Reuters Messaging: antonia.vandevelde.thomsonreuters.com@reuters.net; +32 2 287 6810, fax +32 2 230 7710) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- Will the Fed raise rates? Will the dollar continue its slide? CNBC experts weigh in on the year ahead.
- What may make this decade stand out are the extremes. After one of the worst global recessions ever, we take a look back.
- Goldman Sachs has forbidden employees from gathering in private holiday parties of 12 or more.
- Do you have what it takes to run your own business? Ask yourself these questions.
- Heavily armed pirates in Somalia have set up a sort of stock exhange to fund their hijackings.
- Since its launch in 1998, Google has become a primary force on the Internet. How much do you know about the company?
Data is a real-time snapshot *Data is delayed at least 15 minutes