The Belgian government on Thursday offered more state guarantees to troubled bank KBC. The bail-out, which follows earlier assistance for KBC as well as Fortis and Dexia, the rival Belgian lenders, comes after KBC reported a Q1 loss of €3.6bn ($4.9bn), driven by further writedowns on its portfolio of collateralised debt obligations. KBC shares slid 23% on Thursday after details emerged of its third rescue plan in eight months.

This entry was posted by Gwen Robinson on Friday, May 15th, 2009 at 5:08 and is filed under Capital markets, M&A. Tagged with dexia, fortis, KBC. Edit this entry.