KBC chief says costs to be slashed over next four years

The lender’s costs stem from its high level of non-performing loans, which fell 13 per cent to €1.4 billion last year

14th February, 2021
KBC chief says costs to be slashed over next four years
Johan Thijus, the KBC chief executive, said the bank will cut its cost over the coming years

KBC is to slash its costs over the next four years and run down its legacy non-performing loan levels, its chief executive has said.

The bank’s cost-to-income ratio stood at 85 per cent at the end of last year. Johan Thijus, KBC’s group chief executive, told analysts last week that the bank planned to reduce that figure to 50 per cent in the coming years.

“We are working in that perspective on a...

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