March 23, 2020 / 6:29 AM / 16 days ago

BRIEF-KBC Reacts To Measures Announced By Belgian Federal Government

March 23 (Reuters) - KBC GROEP NV:

* KBC GROUP: KBC REACTION TO MEASURES ANNOUNCED BY BELGIAN FEDERAL GOVERNMENT

* NATIONAL BANK OF BELGIUM AND FEBELFIN (BELGIAN BANKING FEDERATION) HAVE REACHED AN AGREEMENT ON MEASURES FOR BANKS IN LIGHT OF CORONA-CRISIS

* ROYAL DECREE GOVERNING IMPLEMENTATION WILL BE PUBLISHED AFTER VOTE ON THURSDAY

* IMPLEMENTATION BY FINANCIAL SECTOR CAN THEN START AS OF END OF THIS WEEK

* ON CORONAVIRUS: IT IS NOT POSSIBLE FOR KBC GROUP AT THIS STAGE TO MAKE A DETAILED AND CORRECT ASSESSMENT OF POTENTIAL PROVISIONING OR FINANCIAL IMPACT OF MEASURES ANNOUNCED BY BELGIAN FEDERAL GOVERNMENT YESTERDAY

* ECONOMIC IMPACT OF CORONA-PANDEMIC ON BELGIAN ECONOMY IS STILL UNCERTAIN

* AS RESULT IT IS NOT POSSIBLE FOR KBC GROUP AT THIS STAGE TO MAKE DETAILED AND CORRECT ASSESSMENT OF POTENTIAL PROVISIONING OR FINANCIAL IMPACT OF MEASURES ANNOUNCED BY BELGIAN FEDERAL GOVERNMENT YESTERDAY

* ON CORONAVIRUS: ECONOMIC CHALLENGES AHEAD WILL UNDOUBTEDLY HAVE AN IMPACT ON CREDIT LOSSES IN COMING YEARS

* AGREEMENT ON MEASURES FOR BANKS IN LIGHT OF CORONA-CRISIS ALSO INCLUDES BELGIAN FEDERAL GOVERNMENT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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