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KBC Banking & Insurance Press release zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz zzzzzzzzzzzzzzzzzzzz Brussels/Bucharest, 22 April 2008 – 11.30 a.m. CET KBC group launches greenfield consumer finance business in Romania Today, during a press conference in Bucharest, André Bergen, KBC Group CEO, announced the launch of KBC Consumer Finance’s operation in Romania. Entering the Romanian consumer finance market through a greenfield venture illustrates KBC group’s commitment to Romania as a high-growth, high-potential market. In Romania, KBC Consumer Finance offers instalment loans (POS loans) in close co-operation with retailers, who receive support services through the KBC Business Partner Programme to help them grow their own business. The company will also offer cash loans and credit cards directly to Romanian consumers through its own network of sales outlets, agents, brokers, telemarketing (call centre) and the Internet. KBC Consumer Finance works according to a multi-channel, multi-brand and multi-product model. It employs 1 700 FTE, has its headquarters in Warsaw (Poland), and is active in the Czech Republic, Belgium and Poland. André Bergen, KBC Group CEO welcomes the launch of KBC Consumer Finance’s operations in Romania: “Romania is among the most populated CEE countries, with 21.7 million inhabitants and economic growth consistently above the CEE average. We believe in the growth potential of Romania, which has increased following the country’s accession to the EU. The KBC group already made important long-term strategic and successful investments last year with the acquisition of Romstal Leasing and KBC Securities Romania (the former Swiss Capital). Just as in other CEE countries, the consumer finance market in Romania is a very competitive one, but at the same time has tremendous potential. The KBC group sees consumer finance as an important growth engine for the group, and has decided to enter the Romanian consumer finance market. We are a long-term investor in Romania because we believe the country offers great potential and opportunities for the KBC group”. According to Bart Vanhaeren, General Manager of KBC Consumer Finance: “KBC Consumer Finance is a fast growing unit within the KBC group. We offer credit solutions to customers in Belgium and in a growing number of CEE countries, which now includes Romania. KBC Consumer Finance uses a multi-product, multi-channel, multi-brand business model and is one of the few pan-European players to have established its headquarters in a CEE country, Poland. The company has developed very rapidly since its inception. We started in 2006 with two countries and today we are present in four, employing more than 1 700 people. We manage partnerships with 27 000 retailers, 3 100 brokers, and are servicing more than 2 million customers. KBC Consumer Finance is a success and it is our intention and ambition to make Romania part of this. We will continue to develop KBC's consumer finance business internationally and continue to evaluate opportunities arising in other Central and Eastern European markets.” Willem Hueting, Executive Director of KBC Consumer Finance IFN SA, added: “KBC, as an internationally strong and financially sound group, has chosen Romania to start a new consumer finance business. KBC Consumer Finance is about offering consumers flexible and reliable credit solutions to bring their plans to fruition. We believe in responsible lending and, therefore, aim to protect customers from financial risk, while offering them access to a range of personal finance facilities through KBC press releases are available on www.kbc.com. 1/4 the channels of their choice. We are convinced that KBC Consumer Finance, building on the extensive experience which it has already acquired internationally, will quickly become a key player in the Romanian market for personal finance, to the benefit of its customers, employees and shareholders.” Central European and Romanian consumer finance market: high potential, high growth Romania is among the most populated CEE countries, with 21.7 million inhabitants and economic growth consistently above the CEE average. It has strong economic fundamentals and its growth potential has increased since the country’s accession to the EU. Whereas demand for consumer loans is stagnating as a percentage of GDP in the EMU, growth in Central and Eastern Europe continues. Just as in the other CEE countries, the consumer finance market in Romania is a very competitive one, but at the same time has tremendous potential. It is expected to grow by 15 to 20% annually and could exceed 30 bn EUR by 2011 with strong growth in consumer spending and personal consumption generating mounting demand for financial products and services such as consumer finance. KBC Group : international group with longstanding experience and know-how in the consumer finance market KBC Consumer Finance was created in 2006 as an independent, cohesive and dedicated entity within the KBC group to manage the consumer finance activities of all KBC group entities. A multi-product, multi-channel, international financial-services provider, KBC Consumer Finance offers a wide range of personal finance solutions (cash loans, instalment loans, and credit cards) directly to customers as well as via commercial partners such as retailers, intermediaries, franchisees, and agents. KBC Consumer Finance operates a hybrid business model focused on: • accelerating the growth of the retail banks in the KBC group by acting as an in-house product factory; • growing the consumer finance business outside of the banking channels, as a specialist provider of personal finance products and services. Today, KBC Consumer Finance has operating units in four countries: Poland, Belgium, the Czech Republic and Romania. In the Czech Republic and in Belgium, consumer finance is a business line / product factory within the local banks, respectively ČSOB Bank, Postal Savings Bank (Czech Republic) and KBC Bank (Belgium). In Poland, where KBC Consumer Finance is also headquartered, it operates through a separate consumer finance specialist company called Żagiel. KBC Consumer Finance has acquired significant experience and know-how in selling consumer finance products and services to a broad range of customers through a mix of sales outlets dedicated to selling consumer finance products (“loan shops”), agents, brokers, telemarketing (call centre), and the Internet. In Romania, KBC Consumer Finance is starting out with a greenfield venture, a separate consumer finance specialist company. It is building on the know-how and expertise acquired in the other operating units in the group, where KBC Consumer Finance can rely on 15 years of experience offering cash loans, instalment loans (POS loans) and credit cards to more than 2 million customers, in partnership with 27 000 co-operating retail sales partners, 3 100 agents and brokers, supported by more than 1 700 experienced staff. KBC’s ambition is to build a consumer finance business of European scale, which sets the standards in terms of quality as regards its offering, the satisfaction level of its customers and partners, and overall profitability. In the countries where KBC Consumer Finance is already present, it will focus on further developing its business franchise and increasing its market share. At the same time, it continues to explore opportunities for further developing its business internationally either through greenfield operations or mergers and acquisitions. KBC Consumer Finance plans to further develop its consumer finance business internationally and will evaluate opportunities arising in the other Central and Eastern European markets. KBC press releases are available on www.kbc.com. 2/4 KBC Consumer Finance : product and service offering in Romania KBC Consumer Finance will offer three core products in Romania: instalment loans (POS loans), cash loans and revolving credit cards. It will deliver its products and services through a variety of channels, viz. its own network of sales outlets specialised in selling credit products ('loan shops'), agents, brokers, telemarketing (call centre), the Internet, through partnerships with retailers (for instalment loans) and via other companies. In March 2008, KBC Consumer Finance started offering instalment loans (POS loans) in close-co- operation with Romanian retailers who joined the KBC Business Partner Programme, which (in addition to instalment loans) offers its business partners support services (including marketing services, sales support, and training) to grow their own businesses. KBC Consumer Finance plans to launch cash loans and credit cards which are marketed directly to Romanian consumers through a variety of channels. In order to support its growth ambitions, KBC plans to expand its Romanian business rapidly. Currently, the company employs 50 people in its headquarters in Bucharest. It plans to increase its workforce to 130 FTEs by the end of 2008. By that time, its activities should cover the whole geographical territory of Romania. The KBC Consumer Finance team in Romania is led by Willem Hueting and a strong and united management team of experienced professionals. Other KBC group members active in Romania KBC Securities Romania: www.kbcsecurities.ro, www.kbcsecurities.be KBC Securities Romania SA (formerly Swiss Capital) has been a wholly owned subsidiary of KBC Securities NV since its acquisition in 2007. KBC Securities Romania is number one in the local market, with a market share of 10%. The company has a dedicated sales force, as well as a renowned research department and corporate finance team. KBC Securities Romania‘s headquarters are located in Bucharest. To cover the whole territory, the company operates a network of four agencies (Bucharest, Buzau, Constanta and Ploiesti). KBC Securities Romania employs 39 people and caters for 600 customers. KBC Securities NV is the equity house of the KBC group. It is KBC Securities’ mission to offer an outstanding service in the areas of Corporate Finance, Equity Research, Sales & Brokerage and Market Making, with a geographical focus on the Euronext countries (Belgium, the Netherlands, France), the United Kingdom and Central Europe (Poland, the Czech Republic, Hungary, Romania, Bulgaria and Serbia).
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