KBC Group To Acquire 98.45% Stake In 365.bank From J&T Finance

(RTTNews) - KBC Group NV (KBC.BR, KBCSY), a Belgium-based holding company, on Thursday announced that it has reached an agreement to acquire a 98.45% stake in Slovakia-based 365.bank a.s. from J&T Finance Group SE.

As per the deal, the total value for 365.bank is 761 million euros.

The deal is expected to be completed by the end of the year 2025.

365.bank, known for its strong retail banking, holds a 3.7% market share by assets as of December 2024.

The acquisition is expected to enhance KBC's position in Slovakia and reinforce its reference status across all Central and Eastern European markets.

The merger of CSOB and 365.bank is expected to create a strong banking group in Slovakia, expanding KBC's retail presence to around a 20% market share in both net retail loans and mortgages, aided by 365.bank's partnership with Slovak Post.

On Wednesday, KBC Group traded 0.02% higher to close at $47.35 on the OTC.