Reports
KBC’s Private Banking Business Sees Moderate Rise in AUMs
The European private banking business of Belgium bank KBC saw assets under management rise by 6 per cent to €49.7 billion ($60.7 billion) in...
The European private banking business of Belgium bank KBC saw assets under management rise by 6 per cent to €49.7 billion ($60.7 billion) in the first quarter, on a year-on-year basis. KBC said its private banking business contributed €53 million to the group’s net profits of €717 million in the first quarter of 2005. The bank added that commission income within private banking drove higher profitability. The cost-income ratio of the private banking business was reported at 63 per cent in the first quarter.
