KBC strengthens its position in Slovakia with the acquisition of 365.bank

KBC has announced the completion of its acquisition of a 98.45% stake in 365.bank from J&T Finance Group for €708 million. This transaction marks a key step in KBC's strategy in Central and Eastern Europe, strengthening its position in Slovakia, a strategic market for the group.

Following the acquisition, 365.bank and ČSOB will initially operate as separate entities. KBC then plans a legal and operational merger to create a stronger banking group, offering a full range of banking and insurance services. This integration aims to maximize synergies between the two institutions while ensuring a seamless customer experience.

Johan Thijs, CEO of KBC Group, emphasized that this acquisition illustrates KBC's long-term commitment and its desire to grow through targeted acquisitions. Patrik Tkáč of J&T Finance Group expressed his confidence in the growth potential of 365.bank under the KBC and ČSOB umbrella.