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KBC to pay back aid to Belgium, issue new shares
December 10, 2012 / 7:28 AM / 5 years ago

KBC to pay back aid to Belgium, issue new shares

BRUSSELS, Dec 10 (Reuters) - Belgian banking and insurance group KBC said on Monday it was paying back 3 billion euros ($3.88 billion) still outstanding to the Belgian state and was issuing 1.25 billion euros of new shares.

KBC, which received 7 billion euros from Belgium and the region of Flanders during the 2008-2009 financial crisis, said it also planned to repay Flanders 1.17 billion euros of aid in the first half of next year. ($1 = 0.7735 euros) (Reporting By Philip Blenkinsop; editing by Robin Emmott)

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