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KBC will support units in central Europe – report

  Belgian financial services group KBC will continue to support its businesses in central and eastern Europe, the head of its operations in the region was quoted as saying on Thursday.

“I would like to confirm that we will continue to pursue the same policy as so far and support growth of our companies both in Belgium and the (central and eastern European) region,” Jan Vanhevel told daily Rzeczpospolita in an interview published in Polish.

Vanhevel said KBC would consider, if need be, “appropriate measures” to bolster the solvency ratio of its Polish unit Kredyt Bank. Kredyt Bank's solvency ratio declined to 8.8% in the Q4, close to the 8% minimum required by the Polish law.

KBC also owns insurer Warta in Poland, CSOB bank in the Czech Republic as well as businesses in Hungary, Slovakia and Slovenia. (Reuters)