KBC Groep: Gereglementeerde informatie – 12 mei 2025, vóór beurstijd (08u00)

KBC/Balancing act, higher dividends/BUY

KBC is due to unveil its capital distribution plans with its upcoming results. This has been weighing on the share price in an otherwise strong year with ambitious new targets, and a defensive profile in uncertain markets. We expect a small lowering of the 15% CET1 ratio target allowing Share Buybacks going forward of around €300m, with possibly a caveat around M&A (like ETHIAS for example). We would also expect a more generous dividend policy, given the weaker CAGR of +2% since 2018. We believe...