Don't miss

Replay


LATEST SHOWS

THE DEBATE

Turkey's Border Bother: Ankara wary of emboldened Kurds (part 2)

Read more

FOCUS

Golan Heights' Druze minority urges action across border in Syria

Read more

MIDDLE EAST MATTERS

How does IS group finance itself?

Read more

FACE-OFF

French terror attacks: A 'war of civilization'?

Read more

THE DEBATE

Turkey's Border Bother: Ankara wary of emboldened Kurds (part 1)

Read more

ENCORE!

Film show: 'Tale of Tales', 'Love and Mercy' and 'Terminator Genisys'

Read more

THE INTERVIEW

'There is reason to be optimistic' on Iran nuclear talks

Read more

IN THE PAPERS

Greece: Austerity vs. Bankruptcy

Read more

IN THE PAPERS

'The giant fine wine rip-off'

Read more

Another bank wants Belgian state help

Text by AFP

Latest update : 2008-10-25

KBC, Belgium's only major bank not to have asked for financial help in the credit crisis so far, is hoping to receive 3,5 billion euros in state aid, according to Belgium media. Negociations are expect to last the whole week-end.

Belgian bank KBC, whose shares have fallen heavily in recent weeks, is seeking 3.5 billion euros from the state to recapitalise before Monday, the daily Le Soir reported Saturday.

"KBC has sought support from the Belgian state for recapitalisation which the banking and insurance group put at 3.5 billion euros (4.4 billion dollars), a deal which it hopes to clinch this weekend before markets reopen on Monday," the paper said, quoting reliable sources.

All the Belgian press on Saturday reported the woes of KBC, the only major bank in the kingdom not to have turned to the state or foreign establishments for help in the financial crisis.

On Friday KBC issued a statement saying it had a "solid capital base and deposits" but also indicating that it did not rule out seeking guarantees from the state to bolster its competitiveness.

According to the press, talks on the recapitalisation would likely continue throughout the weekend.

Date created : 2008-10-25

COMMENT(S)