KBC

  • Formed in 1998 after the merger of two Belgian banks (Kredietbank and CERA Bank) and a Belgian insurance company (ABB Insurance).
  • Principal activity: integrated bank-insurance.
  • Clients: 10 million.
  • Core markets: Belgium, the Czech Republic, Slovakia, Hungary and Bulgaria. Also present in Ireland and, to a limited extent, in other countries.
  • Network (2015): 1 560 bank branches, insurance sales via own agents and other channels, various electronic channels.
  • Employees (2015): 36 000 FTEs.[1]

According to BankTrack, the KBC has committed itself to the following voluntary initiatives:[2]

  • Carbon Disclosure Project
  • Equator Principles
  • Global Reporting Initiative
  • UNEP Principles for Responsible Investment
  • United Nations Global Compact

KBC is invested in several controversial companies. These include L-3 Communications Holdings, Rio Tinto, and Coca-cola.[3]

KBC was once again included in the Dirty Profits 3 report, details of the financial ties to selected controversial companies can be found within the report and detailed data tables from the research period 2012-2014 can be downloaded here.

KBC was connected to several controversial companies in the Dirty Profits 2 report, published November 2013. Details can be found with the published report and the detailed data tables from the research period 2011-2013 are available to download here.

In Dirty Profits 1, KBC ranked ninth in harmful investment transactions with a total of €421 million invested in 23 of the 28 controversial companies investigated in the PROFUNDO report.For detailed information regarding the companies that KBC is invested in, please refer to the PROFUNDO research report links below. The PROFUNDO report, (conducted between 2010 and 2012), analyzes the investments between KBC (and many other financial institutes) and controversial companies.

PROFUNDO – Underwritings of Shares and Bonds

PROFUNDO – Loans

PROFUNDO – Management of Shares and Bonds

 


[1] “Group Profile: Strategy.” KBC.com. KBC, 2012. Web. 03 Dec. 2012. <https://www.kbc.com/MISC/D9e01/~E/~KBCCOM/~/-BZIZTPN/~-BZL0ER6>.

[2] Weyn, Luc. “KBC Belgium.” BankTrack.org. Banktrack, 2012. Web. 03 Dec. 2012. <http://www.banktrack.org/show/bankprofiles/kbc>.

[3] Gelder, Jan Willem Van, Barbara Kuepper, Petra Spaargaren, and Joeri De Wilde. DIRTY PROFITS Report on Companies and Financial Institutions Benefiting from Violations of Human Rights: A Research Paper Prepared for Facing Finance. Tech. Amsterdam: Profundo, 2012. Print.

Direct involvement in criticised cases Shareholding Indirect involvement (through companies or subsidiary companies) in criticised cases
Norms, affected by criticised cases

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