Belgian multi-channel bank KBC Group NV (KBCSF.PK, KBCSY.PK) said Thursday that its profit for the fourth quarter, on IFRS basis, slid to 240 million euros from 437 million euros in the year-ago quarter.
On a per share basis, the group's loss was 0.84 euros, compared with the year-ago loss of 0.19 euros.
Excluding exceptional and non-operating items, KBC's underlying net profit totaled 309 million euros, up from 161 million euros in the corresponding quarter of last year. The group said its underlying result was driven by the good commercial performance of its strategic banking and insurance business model in its home markets in Belgium and Central and Eastern Europe.
The group posted total income of 1.873 billion euros for the quarter, compared with 2.075 billion euros last year.
In addition, KBC Group said it does not intend to pay a dividend next year.
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