KBC Group Expands Central European Leasing Market Reach
KBC Group Strengthens Central European Presence
In a strategic move, KBC Group is enhancing its operational leasing capabilities by acquiring Business Lease Group BV. This acquisition encompasses all shares of Business Lease in the Czech Republic and Slovakia, represented through binding agreements with both ?SOB Leasing Czech Republic and ?SOB Leasing Slovakia.
Transaction Overview
The planned acquisition is awaiting approval from relevant regulatory bodies and is expected to be finalized by the first quarter of 2026. Notably, the deal is valued at 72 million euros and is projected to have a minor impact on KBC Group's capital situation, reducing their CET1 ratio by only 4 basis points.
Strategic Benefits
This acquisition underscores KBC Group's commitment to broadening its leasing operations in Central Europe, significantly strengthening its market position in both the Czech Republic and Slovakia.
Statements from Leadership
Johan Thijs, the CEO of KBC Group, remarked on this acquisition as a significant step in consolidating and enhancing KBC's established foothold in the central European market. Integrating Business Lease with ?SOB Leasing is set to bring together a fleet of about 15,000 vehicles in the Czech market, positioning the firm as a top-five player.
Improved Customer Experience
Through this merger, the combined companies will focus on improving operational efficiencies and enhancing customer experiences. This will enable KBC Group to tap into significant synergy opportunities, including avenues for cross-selling between the businesses.
Expanding in Slovakia
Aleš Blažek, heading KBC Group's Czech division, emphasized how integrating Business Lease's flexible mobility solutions with their existing operations would markedly elevate their market presence and service offerings.
Future Growth Opportunities
Daniel Kollár, CEO of KBC Group's Slovak Division, expressed excitement regarding this acquisition as a pivotal milestone for growth. He highlighted the ambition to advance the group’s standing in operational leasing, reinforcing KBC’s capacity to support Slovak businesses.
Insights from AutoBinck Group
Vincent Weijers, executive from AutoBinck Group, highlighted the solid foundation that Business Lease has built across five European markets. He noted that partnering with larger entities during this period of market consolidation is essential for future success.
Commitment to Success
Elias Drakopoulos, CEO of Business Lease Group, expressed confidence that KBC is the right partner to secure the future successes in both Czech and Slovak operations, assuring a promising transition for their employees.
About Business Lease Group
As a part of the Dutch AutoBinck Group NV, Business Lease specializes in operational leasing and fleet management targeted at both SMEs and larger enterprises. Over the years, Business Lease has developed a notable market presence, managing a fleet of over 30,000 vehicles with a dedicated team of 244 employees, primarily based in Prague with offices throughout Central and Eastern Europe.
About ?SOB Leasing
?SOB Leasing operates across the Czech Republic, providing diverse services such as operational leasing, fleet management, and finance leases. They hold a significant market share of approximately 16%, catering to around 25,000 clients and delivering insurance solutions for various asset classes including vehicles and machinery.
Company Contact Information
For any inquiries regarding this acquisition, please contact:
Kurt De Baenst
General Manager, Investor Relations, KBC Group
Tel. +32 2 429 35 73 - E-mail: IR4U@kbc.be
Katleen Dewaele
General Manager, Corporate Communication/Spokesperson, KBC Group
Tel +32 475 78 08 66 - E-mail: pressofficekbc@kbc.be
Frequently Asked Questions
What is the main focus of the KBC Group's acquisition?
The primary focus is to integrate Business Lease's leasing capabilities to enhance KBC Group's market position in Central Europe.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2026, pending regulatory approval.
What impact will this acquisition have on KBC's capital?
This deal will have a minimal effect, impacting KBC's CET1 ratio by just 4 basis points.
How does KBC Group plan to improve customer experience?
By leveraging synergies from Business Lease, KBC Group aims to enhance operational efficiencies and service offerings.
What is the size of Business Lease's operational fleet?
Business Lease manages a fleet of over 30,000 vehicles, focusing on SMEs and large enterprises across Europe.
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