Examples of KBC Group in a sentence
As subsidiaries of a Belgian mixed financial holding company (KBC Group NV) and part of a financial conglomerate, the Issuers are also subject to the supplementary supervision by the ECB, according to Directive 2011/89/EU of 16 November 2011 amending Directives 98/78/EC, 2002/87/EC, 2006/48/EC and 2009/138/EC as regards the supplementary supervision of financial entities in a financial conglomerate (implemented in Articles 185 and following of the Banking Law).
KBC Group NV and KBC Bank NV also have a Corporate Governance Charter which is published on xxxxx://xxx.xxx.xxx/en/corporate-governance/corporate-governance-charter.html.
As required by the Banking Law and the Governance Manual, KBC Group NV has drafted a Group Internal Governance Memorandum (the “Governance Memorandum”), which sets out the corporate governance policy applying to the KBC Group and of which the governance memorandum of the Issuers forms part.
The Issuers as credit institutions and KBC Group NV are falling within the scope of the Single Supervisory Mechanism.
The Issuers are subject to consolidated supervision by the ECB on the basis of the consolidated financial situation of KBC Group NV, which covers, among other things, solvency as described above, pursuant to Articles 165 and following of the Banking Law.
For completeness, KBC Bank paid an interim dividend regarding 2024 of EUR 995,371,469 to its parent company KBC Group NV (intragroup payments).
The Issuer is a wholly-owned subsidiary of KBC Bank and is part of the KBC Group, on which it depends for certain group functions and because of the integrated regulatory and solvency supervision.
CBC Banque is a wholly-owned subsidiary of KBC Bank and the French-language arm of the KBC Group.
The most recent version of the Governance Memorandum was approved on 21 December 2023 by the Board of Directors of KBC Group NV, KBC Bank NV and KBC Insurance NV.
As at the date of this Base Prospectus, the Issuer’s share capital was EUR 9,732 million and consisted of 995,371,469 ordinary shares, which are all held by KBC Group NV.