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BRIEF-KBC Group Q2 IFRS net result at EUR 855 ‍​mln beats Reuters poll
August 10, 2017 / 5:29 AM / 4 months ago

BRIEF-KBC Group Q2 IFRS net result at EUR 855 ‍​mln beats Reuters poll

Aug 10 (Reuters) - KBC GROEP NV:

* REG-KBC GROUP: EXCEPTIONALLY STRONG RESULT OF 855 MILLION EUROS IN THE SECOND QUARTER

* Q2 TOTAL INCOME EUR ‍​1.98 BILLION VERSUS EUR 1.89 BILLION IN REUTERS POLL

* Q2 IFRS NET RESULT EUR 855‍​ MILLION VERSUS EUR 720 MILLION IN REUTERS POLL

* Q2 NET INTEREST INCOME EUR 1.03 BILLION VERSUS EUR 1.03 BILLION IN REUTERS POLL

* WILL PAY AN INTERIM DIVIDEND OF 1 EURO PER SHARE ON 17 NOVEMBER 2017

* FOR IRELAND, OUR UPDATED GUIDANCE FOR LOAN IMPAIRMENT IS FOR A NET RELEASE OF 160 TO 200 MILLION EUROS FOR FULL YEAR 2017

* Q2 NON-LIFE INSURANCE (BEFORE REINSURANCE) EUR 179 MILLION VERSUS EUR 141 MILLION YEAR AGO

* Q2 LIFE INSURANCE (BEFORE REINSURANCE) LOSS OF EUR 24 MILLION VERSUS LOSS OF EUR 38 MILLION YEAR AGO

* PLANNED REFORM OF THE BELGIAN CORPORATE INCOME TAX REGIME WOULD IMPACT KBC MAINLY BECAUSE OF THE INTENDED GRADUAL DECREASE IN THE TAX RATE FROM 33.99% TO 29.58%

* PLANNED REFORM OF THE BELGIAN CORPORATE INCOME TAX REGIME EXPECTED TO HAVE A RECURRING POSITIVE IMPACT ON THE INCOME STATEMENT FROM 2018 ONWARDS

* PLANNED REFORM OF THE BELGIAN CORPORATE INCOME TAX REGIME EXPECTED TO HAVE SLIGHTLY POSITIVE ONE-OFF IMPACT (OF ROUGHLY +0.2%) ON COMMON EQUITY RATIO IN THE H2 OF 2017

* PLANNED REFORM OF THE BELGIAN CORPORATE INCOME TAX REGIME EXPECTED TO HAVE ESTIMATED ONE-OFF NEGATIVE UPFRONT IMPACT ON INCOME STATEMENT IN THE H2 (ESTIMATED AT EUR -230 MILLION) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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