quarterly figures q4 2008 kbc
DESCRIPTION
Q4 results KBC 2008 slidecastTRANSCRIPT
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Kristof Saelens2AF1
English: Accounting & Tax 1 - SlidecastArtevelde Hogeschool – J. Casteleyn
Quarterly Figures Fourth Quarter 2008
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General info
Main activities Retail banking Insurance Asset management
CEO: André Bergen
Interim-CEO: Jan Vanhevel
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Quarterly figures – fourth quarter 2008
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Notes of the accounts
Dreadful fourth quarter for financial markets
No respite for sector
Reduce costs!
Financial position remains solid
2009: encouraging
January 2009 better than January 2008.
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Financial highlights
Results affected by markdowns on structured credit portfolios
CDO investments were marked down to zero
Loss in value of the equity investment portfolio
Share prices sank 20%
Write-offs net negative impact
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Financial highlights
Deposit pricing pressure limited profitability in Belgium
Customer deposit growth and life insurance sales remains solid
Interest margin edges up by 6 basis points
Underwriting result for the insurance business: very good
Combined year ratio = 96%
Full-year return on allocated capital for the Belgium Business Unit came to 36%
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Financial highlights
Severe challenges Overall economic activity slowed Credit growth restricted Commercial loan loss charges rose
Derivates products hit High volatility Reduced effectiveness
Quarterly loss
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Financial position
Solid financial position Liquidity buffer Firm solvency ratios
Support Belgian State Flemish Regional Government
Tier-1 ratio 11,2%
Solvency margin 188%
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Conclusion
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Thank you for your attention