KBC Completes Acquisition of 365.bank for 708 Million Euros
KBC Group announces the completion of the acquisition of 98.45% of 365.bank from J&T Finance Group, according to a statement released this Thursday. The transaction, initially announced in May 2025, allows the Belgian group to merge the operations of 365.bank with those of ?SOB, its Slovak subsidiary.
Details of the Acquisition
The total acquisition price paid for the 98.45% stake in 365.bank amounted to 708 million euros, considering closing adjustments, the company specifies. The transaction affects the group's capital position by about 50 basis points on the fully loaded CET-1 ratio excluding floor, according to the statement. KBC states that its CET-1 ratio remains very strong and well above minimum regulatory requirements. The transaction has received approval from all relevant authorities, now allowing KBC Bank NV to become the new parent company of 365.bank. The acquisition is part of the group's growth strategy in Slovakia, a market described as key by the company, following the acquisition of Slovak OTP Bank in 2021.
Operational Strategy Post-Acquisition
Initially, 365.bank, including Postal Bank, and ?SOB will continue to operate as two separate banks under KBC's control, the group indicates. The next planned step is a legal and operational merger of the two entities. This integration aims to bring together two organizations described as strong and complementary, by leveraging their respective strengths, the statement specifies. Customers of 365.bank will benefit from an expanded range of banking and insurance solutions, enhanced digital services, and a broader combined network, including the long-standing partnership with the Slovak post office, according to the company. During the transition period, 365.bank will continue to honor all its commitments and provide products and services to its existing and new customers, with both brands remaining active independently under their established names.
Market Impact and Future Outlook
The combined entity is expected to hold about 20% market share in both personal loans and net mortgage loans, positioning KBC among the strongest banking groups in the Slovak market, according to the group. As of December 2024, 365.bank reported total assets of 4.7 billion euros and equity of 551 million euros. The bank employs 1,292 staff and serves approximately 830,000 customers through 57 branches of 365.bank and over 1,400 sales points in Slovak post office branches. Launched in 2018 as a fully online bank, 365.bank partnered with Postal Bank in 2021. The bank currently operates under two brands: 365.bank targets the young urban clientele through digital platforms, while Postal Bank serves the general public in all towns with more than 1,500 inhabitants.
