KBC Group

1

• KBC Group
• Summer presentationJune 2005

Web site www.kbc.comTicker codes KBC BB
(Bloomberg) KBKBT BR (Reuters)ISIN code
BE0003565737
2
Contact information

• Investor Relations OfficeLuc CoolNele
  KindtMarina KanamoriTel. 32 2 429 49 16
  investor.relations _at_ kbc.com
• Surf to www.kbc.com for the latest update.

3
Important information

• KBC Groups financial accounts are presented
  according to IFRS reporting standards as of
  1Q2005
• As IFRS have a material impact on the way
  earnings are presented, this presentation is
  drafted to increase their visibility and to help
  the investment community to understand the
  underlying profit trends
• KBC believes that this presentation is reliable,
  although some information may be condensed or
  incomplete
• By receiving this presentation, each investor is
  deemed to represent that it possesses sufficient
  expertise to understand the risks involved
• This presentation is provided for informational
  purposes only and does not constitute an offer to
  sell or the solicitation of an offer to buy any
  security
• This presentation contains forward-looking
  statements with respect to our earnings
  development. By their nature, these
  forward-looking statements involve assumptions,
  uncertainties and opportunities. The risk exists
  that these statements may not be fulfilled and
  that future results differ materially.

4
Financial highlights - 1Q 2005 - Group
performance - Headlines per segment FY 2005
profit outlook Additional information on 1Q 2005
results 2004 pro forma IFRS quarterly accounts
Foto gebouw
5
Strong earnings momentum
Net profit91 yoy
As published (Bel. GAAP), KBC Old
Pro forma (IFRS 2004), MergCo
IFRS 2005
6
Key figures
Key figures Result as published Non-recurring items (1) Underlyingresult Underlying,Chg yoy (2)
Gross income 2 756 -169 2 587 N.R. (3)
Operating income (4) 1 023 -169 854 122 m (17)
Impairments -15 - -15 -137m(-90)
Net profit 717 -136 581 205m(55)
C/I, bankingCR, non-lifeROE 519224 559221
Notes (1) Related to settlement of a historic
Slovakian loan (net 68 m) and value gains on
shares of Irish insurer FBD (net 68 m) (2)
Comparison with 2004 figures not fully valid
since IAS 32/39 and IFRS 4 not applied to 2004
figures (3) Comparison not relevant due to
significant impact of IFRS 4 application (4)
Gross income minus technical charges, insurance,
plus ceded R/I result minus operating expenses
7
Highlights

• Underlying profit at 581 m, up 32 q-o-q and 55
  y-o-y
• Strong growth of commission income (20) due to
  successful sales and management of mutual funds
• Comparison of individual P/L lines with pro-forma
  2004 figures distorted by application of IFRS
  32/39 and IFRS 4 as of 2005
• Stable interest income in adverse competitive and
  market-yield environment
• Further downward trend in expenses - cost/income
  ratio, banking at 55
• Very low combined ratio, non-life (92)
• Zero credit-risk provisioning (loan-loss ratio
  0)
• Increased profitability in all business segments
• Satisfactory results in Poland (17 million profit
  contribution and zero credit cost)
• Outlook for 2005 remains positive

Adjusted for one-off results of 136 m
8
Main changes IFRS 2004 2005

• Impact of M2M of financial instruments (IAS
  32/39)
• Impact of the M2M of hedging derivatives has been
  to a high degree hedged by use of the FIV
  book (intentional M2M of part of the bond
  portfolio via PL)
• Impact on 1Q05 -29 m (before tax and
  minorities), recognized under trading income
  (net profit of financial instruments at fair
  value)
• Net impact of IFRS 4 on insurance contracts very
  limited (8 m)
• Material impact on individual I/S lines net
  interest income and trading income (IAS 32/39)
  and premium income (IFRS 4). The most important
  changes are
• Reclassification of interest component of hedging
  derivatives from interest income (63 m) to
  trading income (-63 m)
• No recognition of premium income (-457 m) of
  unit-linked insurance products (additional margin
  recognized as commission income 13 m)

9
Satisfactory quality of revenue
Gross income (m)
3 462
3 178
3 175
2 756
2 517
Excl. one-offs (169 m) and IFRS
reclassifications, solid quality of banking
income stable interest income (in adverse
interest rate environment), strong commission
line (17 y-o-y) and lower trading revenue
Nominal amount dropped, mainly due to a)
non-recognition under IFRS 2005 of 464 m new
unit-linked premium volume, b) M2M of financial
instruments (IAS 32/39) and c) lower guaranteed
life insurance (-667 m q-o-q and 95 m y-o-y)
IFRS 2005
Pro forma IFRS 2004
10
Operating expenses at low level
1 424
Operating expenses (m)
1 269
Cost/income of banking and asset management at
51
1 147
1 105
1 104
1Q05 down 13 y-o-y due to cost cutting, no
provisioning for future operating expenses
timing differences (y-o-y trend not to be
extrapolated to Q2)
4Q04 lifted by staff profit-sharing bonuses,
marketing costs, litigation provision (KBC Bank)
and restructuring provision (KBL epb)
Pro forma IFRS 2004
IFRS 2005
C/I of 55 excl. non-recurring income
11
Without significant impairments
Loan-loss ratio Avg loan portfolio LLRFY04 LLR1Q05
Belgium 56.2 bn 0.09 Nil
CR/Slovakia 10.4 bn 0.26 Nil
Hungary 5.3 bn 0.64 0.73
Poland 3.9 bn 0.69 Nil
International 38.6 bn 0.26 0.07
Total 114.4 bn 0.20 Nil
152
Impairments (m)
90
79
44
Historic low level of impairment charges
(loan-loss provisions net write-backs of 3 m)
15
Pro forma IFRS 2004
IFRS 2005
12
Excellent underwriting result, non-life
Combined ratio FY2003 FY2004 1Q2005
Belgium 93 93 89
Czech Rep. 102 99 92
Slovakia 146 138 132
Hungary 103 98 83
Poland - 95 101
R/I 100 98 90
Total 96 95 92
Combined ratio ())
103
96
95
92
Very low combined ratio in most markets
Pro forma IFRS 2004
IFRS 2005
13
Asset growth
Customer loans (1) o/w mortgages Customer deposits (1) Life deposits AUM(off-balance)
108.4 bn 29.0 bn 166.4 bn 13.9 bn 150.7 bn
Total , Ytd (1) 2 4 4 3 7
Belgium 2 4 5 3 9
CEE- CR/Slovakia- Hungary- Poland 011-4 6682 1014 4 2 7815-7 71235-14
Rest of the world 4 6 2 -5 5
Note (1) Growth excl. (reverse) repos
14
Financial highlights - 1Q 2005 - Group
performance - Headlines per segment FY 2005
profit outlook Additional information on 1Q 2005
results 2004 pro forma IFRS accounts
Foto gebouw
15
Segment structure
KBC Group NV
KBCInsurance
KBCAM
KBL epb
Gevaert
KBCBank
Primary segmentation by business segment
16
Key points, business segments
BANKING

• Banking
• Profit at record level of 470 m (402 excl.
  one-off), driven by
• Strict cost control (C/I at 55 incl. AM, excl.
  one-off)
• Zero credit cost
• Good top-line quality, not boosted by gains and
  trading income. Commissions were strong (up 17
  y-o-y) and NII stable despite adverse interest
  yield climate
• Insurance
• Results increasing to 122 m on the back of
• Higher capital gains (esp. FBD net
  non-recurring impact 68 m)
• Low impairment charges on portfolios (extremely
  high in 1Q04)
• Excellent underwriting performance (CR, non-life
  92)
• Interest income stable in spite of increased
  reserves invested due to interest yield context
• Capital gains expected to be lower in coming
  quarters

Net profit (m)
Pro forma IFRS 2004
IFRS 2005
INSURANCE
Net profit (m)
Pro forma IFRS 2004
IFRS 2005
17
Key points, business segments

• Asset management
• AUM in 1Q05 up 8 to 85.2 bn on the back of new
  money entries
• Profit contribution at 58 m, 7 m y-o-y (driven
  by increased AUM), down 8 m q-o-q (exceptionally
  high dividend income in Q4)
• Note total 3rd assets of the group 150.7 bn
• Asset management segment 72.3 bn (3rd party)
  12.9 bn (group assets)
• Banking segment 28.7 bn (mostly private and HNWI
  assets in Belgium and CEE)
• European private banking segment 49.7 bn (o/w
  46.0 bn of private customers via epb network)
• European private banking
• Profit contribution at 53 m, up 10 m y-o-y and up
  83 m q-o-q (Q4 heavily depressed by one-off
  restructuring provisions)
• Top-line at high level (partly due to M2M of
  financial instruments) with sustained growth
  trend of commission income
• Private banking AUM in 1Q05 up 6 to 49.7 bn
• Cost/income at 63
• No relevant impairment charges

Net profit (m)
ASSET MANAGEMENT
Pro forma IFRS 2004
IFRS 2005
Net profit (m)
EUROPEAN PRIVATE BANKING
Pro forma IFRS 2004
IFRS 2005
18
Key points, business segments
Net profit (m)
GEVAERT

• Gevaert
• Profit contribution of 32 m, slightly higher than
  previous quarters (remind that in 2Q04
  discontinued activities weighed heavily on the
  P/L)
• Revenue shored up by M2M of private equity
  portfolio (15m) (according to IFRS standards)
• Profit contribution from Afga Gevaert 8m
• Holding company
• Net holding company costs at 18 m, somewhat above
  2004 quarterly average due to increased debt
  leverage related to the minority buy-out of KBL
  (530 m).
• Debt funding will be gradually reduced in the
  next quarters

IFRS 2005
Pro forma IFRS2004
HOLDING COMPANY
Pro forma IFRS 2004
IFRS 2005
Net profit (m)
19
Segment structure contd
2
KBC Group NV
1
KBCInsurance
KBCAM
KBL epb
Gevaert
KBCBank
Retail
SME/Corporate
CEE
Markets
European private banking
1 . Primary segmentation by business segment 2.
Additional breakdown by area of activity
Gevaert
20
Reminder

• Changes as of 1Q 2005
• Allocation of capital
• Tier-1 of 8 (with 15 hybrid), previously 7
• No further allocation of goodwill
• Integration of Asset management business into
  retail and corporate divisions
• Additional areas European private banking and
  Gevaert
• Use of IFRS reporting standards

• Areas of activity in 2005
• Retail bancassurance (mainly in Belgium)
• Central and Eastern Europe
• Corporate services (SME and corporates)
• Market activities
• KBL European private banking
• Gevaert

• Best-efforts approach for 2005 will be
  reassessed in the future

21
Retail Belgium and CEE

• Retail Belgium
• Net profit in line with previous quarter and 3x
  higher y-o-y driven by
• sound revenue growth (investments-related)
• sustained cost discipline
• absence of credit provisioning and strong
  non-life underwriting performance
• normalization of value impairments on the
  investment portfolio (delta of 115 m)
• Private banking Belgium sub-segment contributes
  17m
• ROAC at 33 (pro forma FY04 22)
• CEE
• Profit contribution of 191 m, of which 181 m in
  banking (of which 68 m one-off) and 10 m in
  insurance. ROAC at 66 (pro forma FY04 27)
• In CR/Slovakia strong quarter (150 m), though
  backed by one-off (68m) and M2M of derivatives
  (20m) and zero credit provisioning
• Hungary further positive development of
  operating results, but higher loan-loss
  provisions (LLR 0.73, similar to that of major
  peers). Profit at 10 m
• Poland strong quarter (23 m, of which 17 m in
  banking) with improved C/I and zero credit
  provisioning

Net profit (m)
RETAIL BELGIUM
Pro forma
Net profit (m)
CEE
Pro forma
22
Earnings momentum in CEE, banking
CSOB, C/S Rep.
Kredyt Bank, Poland
In m EUR
In m EUR
1Q05 ROAC 120
1Q05 ROAC 32
NLB, Slovenia
KH, Hungary
In m EUR
In m EUR
1Q05 ROAC 17
Pro forma
23
SME and wholesale activities
Net profit (m)
SME/CORPORATE

• SME/corporate
• Strong profitability trend of 2004 continues as a
  result of, inter alia
• absence of loan losses
• sustained solid technical result from reinsurance
  
• Quarterly profit level even higher than that of
  previous quarters, thanks in particular to a
  commercial real estate transaction (12 m)
• ROAC at 25 (pro forma FY04 19)
• Capital markets
• Profit contribution continues to be at level
  registered in previous quarter, but below record
  high of 1Q 2004 (when exceptionally fine results
  were booked in share and bond derivatives)
• Income form convertibles equity derivatives
  trading was particular weak
• ROAC at 42 (pro forma FY04 34)

Pro forma
Net profit (m)
CAPITAL MARKETS
Pro forma
24
2005 profit outlook

• The profit for the quarter cannot be extrapolated
  to the entire year. Nevertheless, KBC continues
  to be positive for the rest of 2005
• Tight cost control is being maintained
• There are no signs of any substantial decline in
  credit quality
• The impact of M2M of financial instruments has so
  far been relatively limited, due among other
  things to a adequate hedge policy, which will
  continue to be implemented
• The interest rate environment is a factor of
  uncertainty

• Reiteration/reconfirmation of previous guidance
  2005 net profit will be at least 1 825 m (
  adjusted pro-forma figure for 2004)
• KBC will renew its financial objectives
  (previously set for the period 2002-2005) taking
  into account the impact of IFRS and the group
  enlargement. Disclosure on 23 June 2005.

25
Financial highlights - 1Q 2005 - Group
performance - Headlines per segment FY 2005
profit outlook Additional information on 1Q 2005
results 2004 pro forma IFRS quarterly accounts
Foto gebouw
26
Group income statement, 1Q 2005
(in m euros) Banking Insurance AM KBLepb Gevaert Holding Group
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from FI at FV Net realised gains from AFS assetsNet fee and commission incomeOther income 8980197156321149 13172910-5106-8119 00240880 380245210024 -201204023 -160000-2105 1 04872934133168429215
Gross income 1 513 907 94 211 46 88 2 756
Operating expensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -80724-20012 -123-16-1-14-612-170 -15000000 -134-110001 -20000008 -108000000 -1 104-153-16-612-1721
Profit before taxes 720 140 79 77 33 -20 1 030
Income tax expense Minority interests -196-54 -180 -210 -21-3 -20 20 -256-57
Net profit 470 122 58 53 32 -18 717
27
Gross income - reconciliation
Gross earned premium
Net interest incomeNet fee commission income
Net realized gains AFSDividend income, net gains
from FI at FV, other income.
28
Operating expenses - reconciliation
Banking AM
Insurance
4Q04 lifted at KBL by restructuring provision
Holding Co
KBL epb
1 424
Gevaert
1 269
1 147
1 129
1 105
1 103
1 104
1 071
1 004
IFRS reclassification as of 1Q04 paid
commissions to commission income
4Q04 lifted by staff profit-sharing bonuses and
marketing costs
IFRS reclassification as of 1Q04 incl. operating
provisions
1Q05 down due to cost cutting, low provisioning
timing differences
As published (B-GAAP), KBC Old
Pro forma (IFRS 2004), MergCo
IFRS 2005
29
Impairments - reconciliation
1Q04 high equity impairments (under IFRS, impact
not compensated by write-back of dedicated
provisioning, as was the case under B-GAAP)
Under IFRS, no further amortization of goodwill
(avg. 10m/Q)
152
KBL/Gevaerts 18 m write-back explains delta with
B-GAAP
11 m real-estate impairments
90
79
Zero credit-loss provisioning
44
15
KBLs 10 m write-back explains delta with B-GAAP
KBLs 10 m provisioning explains delta with B-GAAP
Pro forma (IFRS 2004), MergCo
As published (B-GAAP), KBC Old
IFRS 2005
30
Areas of activity overview, 1Q 2005 (1)
(in m euros and y-o-y) Retail CEE CEE SME/Corp. Markets KBLepb Gevaert Total
Banking and AM
Gross incomeOperating expensesAssociatesIncome tax expenseMinority interestsNet profit group share 659 (13)- 371 (-2)0 (-) - 87 (58)0 (-)213 (47) 522 (47)-253 (6)1 (-)- 59 (79)-25(-233)181 (157) 522 (47)-253 (6)1 (-)- 59 (79)-25(-233)181 (157) 258(13)-94 (15)0 (-)- 44 (15)0 (-)123 (19) 207 (-28)-93 (-38)0 (-)- 40 (15)0 (-)75 (19) 211 (13)-134 (10)-1 (-)- 21 (-)-3 (-)53 (22) 1 608 (1)-822 (-18) 12 20)- 218 (59)-54 (23)528 (38)
Insurance
Gross incomeOperating expensesAssociatesIncome tax expenseMinority interestsNet profit group share 618 (-45)- 74 (-4)0 (-)- 11 (-91)0 (-)82 (-241) 203 (13)- 41 (0)0 (-)- 6 (-326)- 2 (-259)10 (-241) 203 (13)- 41 (0)0 (-)- 6 (-326)- 2 (-259)10 (-241) 79 (-)- 8 (-)0 (-)- 1 (-)0 (-)12 (-102) 907 (34) - 123 (-1)0 (-)- 18 (64)0 (-)122 (-)
Holding Co
Net profit group share 32 - 18
Group total
Net profit Group shareShare in group resultROAC 295 (238)4133 295 (238)4133 191(191)2766 134 (24)1925 75 (-15)1041 53 (22) 718 32 (84)413 717 (91)24
(1) excl. Non-allocated
31
CEE banking - I/S details, 1Q 2005
1Q 2005 CSOB KB KH NLB
Statutory accounts Net interest incomeDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 123 8843 51318 9124 31957 693114 448 50 413011 5091 46316 2273 360 53 4781325 276-4924 5802 645
Gross income 322 769 82 972 105 942
Operating ExpensesImpairmentsShare in result of associated companiesTaxes -122 3944 5710-53 537 -59 35826579-1 332 -68 403-9 669736-7 760
Net statutory profit 151 409 22 887 20 846 23 083
Profit contibution to Group Net statutory profitConsolidation adjustmentsMinority InterestsResults of capital allocation 147 715 151 40919 057-16 943- 5 807 17 112 22 887- 509- 2 895- 2 372 7 416 20 846- 497 5 083- 7 850
Profit contribution, Group shareROACROI 147 71512034 17 1123211 7 4161715 8 423
32
IFRS balance sheet
in m euros 31-Dec-04IFRS 2004 01-Jan-05IFRS 2005Main changes due to IAS 32/39 and IFRS 4 31-Mar-05IFRS 2005
Loans and advances to customersSecuritiesLoans and advances to banksDerivative financial instrumentsProperty and equipment (excl invest. property) Goodwill and other intangible fixed assetsInvestments in associated companiesOther assets 111 17798 86238 46315 3762 300 1 0861 22816 671 110 692100 57817 324 108 421107 84743 98916 2092 247 1 3791 15614 960
Deposits from customers and debt securitiesDeposits from banksDerivative financial instrumentsGross technical provisions, insuranceLiabilities under investment contracts, insuranceOther liabilities 157 71255 08317 72813 2593 931 23 351 20 52413 068 166 47454 13220 36613 3834 195 22 712
Total equity- Parent company equity- Minorities 14 09912 3281 771 13 136 14 94613 3161 630
Balance sheet total 285 163 296 208
33
Composition of portfolios
Assets as at31-Mar-05 Value at 31-03-05 Valuation (volatility impact)
Loans and receivables Mortgages, consumer credit corporate loans 121.9 bn Amortized cost (no impact from volatility in valuation)
HTMinstruments Bonds 9.6 bn Amortized cost (no impact from volatility in valuation)
AFS instruments BondsEquity 38.2 bn5.2 bn Fair Value (adjustments recognized in shareholders equity)
HFT instruments Trading portfolios heding derivatives 62.2 bn Fair Value (adjustments in PL)
Financial instruments at Fair Value LoansBondsEquity 22.6 bn21.5 bn4.4 bn Fair Value (adjustments in PL)
34
Number of shares
BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions) BASIC NUMBER OF SHARES (in millions)
Ordinary shares Mandatory convertibles Treasury shares Basic No.of shares Avg. quarter Average Ytd
31/12/03 367.7 2. 6 -11.0 359. 4 - -
31/03/04 367.0 2. 6 -10.1 359.6 359.5 359.5
30/06/04 366.3 2. 6 -9.7 359.2 359.4 359.5
30/09/04 366.3 2. 6 -9.5 359.4 359.3 359.4
31/12/04 366.4 2. 6 -9. 6 359.5 359.5 359.4
31/03/05 366. 4 2. 6 -12.6 356.5 358. 0 358.0

DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions) DILUTIVE NUMBER OF SHARES (in millions)
Basic No. of shares Stock options Convertible bonds Dilutive No. of shares Avg. quarter Average Ytd
31/12/03 359.4 6.1 5.2 370.7 - -
31/03/04 359.6 6.1 5.2 370.9 370.8 370.8
30/06/04 359.2 6.0 5.2 370.5 370.7 370.8
30/09/04 359.5 5.8 5.2 370.5 370.5 370.7
31/12/04 359.5 5.0 5.2 369.7 370.1 370.5
31/03/05 356.5 5.0 5.2 366.7 368.2 368.2
Net profit (in m EUR) 717
Basic number of shares 357 990 384
Diluted number of shares 368 187 859
Basic EPS (euros) 2.00
Diluted EPS (euros) 1.96
35
Financial highlights - 1Q 2005 - Group
performance - Headlines per segment FY 2005
profit outlook Additional information on 1Q 2005
results 2004 pro forma IFRS quarterly accounts
Foto gebouw
36
Important information

• Pro forma figures 2004 are drafted according to
  the European IFRS. It is important to highlight
  that the impact of IFRS 32/39 on the valuation of
  financial instruments and of IFRS 4 on insurance
  contracts is therefore not included. As a result,
  the 2005 figures (which include the impact of the
  stated valuation rules) are not fully comparable
  with 2004 pro forma figures.

37
Main changes in valuation rules, 2004
Compared with Belgian GAAP Impact on earnings Impact on book value Impacts start
Presentation of own equity before profit appropriation (instead of after profit appropriation) X 2004
Stricter criteria for recognition of provisions (IAS 37) X X 2004
Recognition of deficit/excess of defined benefit pension plans (DBP) (IAS 19) X X 2004
Broader criteria for recognition of deferred taxes (IAS12) X X 2004
Reclassification from operating to finance lease (IAS 17) X X 2004
Correction of depreciation of tangible assets and capitalization of internal software (IAS 16/38) X X 2004
Impairment testing of goodwill and no further depreciation (IAS 36 and IFRS 3) X X 2004
Other miscellaneous changes with limited impact, such as inclusion of SPVs in scope of consolidation, etc. X X 2004
38
Main changes in valuation rules, 2005
Compared with IFRS 2004 Impact on earnings Impact on book value Impact start
Deposit accounting for unit-linked life products (IFRS 4) 2005
Derecognition of catastrophe / equalisation provision (4) X X 2005
Insurance liability adequacy test (IFRS 4) X X 2005
Adjustment of loan losses (NPV-approach and recognition of portfolio-based provisions) (IAS 32/39) X X 2005
Recognition impairments on equity investments (32/39) X X 2005
Deduction of treasury shares from own equity (32/39) X X 2005
Convertible bonds to be considered as own equity (32/39) X X 2005
Marking-to-market,bonds available for sale (IAS 32/39) X 2005
Marking-to-market, bonds at fair value (IAS 32/39) X X 2005
Marking-to-market, shares available for sale (IAS 32/39) X 2005
Marking-to-market, shares at fair value (IAS 32/39) X X 2005
Marking-to-market, derivatives not held for trading (32/39) X X 2005
39
Reminder impact on FY2004 accounts
Impact on own equity
Impact on P/L
in m EUR
in m EUR
Pro forma 2004 (excl. IAS 32/39 and IFRS 4)
versus Belgian GAAP
40
Impact of IFRS standards on 1Q 2004
Impact on own equity 31Mar04
Impact on P/L 1Q04
in m EUR
in m EUR
Pro forma 2004 (excl. IAS 32/39 and IFRS 4)
versus Belgian GAAP
41
IFRS quarterly income statements, 2004
GROUP TOTAL (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 9951 27525224193357106 9661 40412119160324113 9109013912393323128 9631 57746187157399132 3 833 5 1582317255031 404479
Gross income 3 175 3 178 2 517 3 462 12 333
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -1 269-152-33-119- 1 169-520 -1 105-90-74-12-1 240-22-60 -1 147-44-15-18-771-1234 -1 424-79-76-2-1 454-2928 -4 944-365-198-150-4 633-6822
Profit before taxes 602 662 577 504 2 345
Income tax expense Minority interests -170-55 -177-51 -155-57 -35-29 -537-193
Net profit 376 434 365 440 1 615
42
Banking - I/S details, 2004
BANKING SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 83601322011627452 8250411776022671 787025855623752 8050231507630568 3 253 01036323071 042243
Gross income 1 511 1 400 1 241 1 428 5 581
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -989-39-4230010 -816-72-775003 -848-28-1400019 -993-80-65-15003 -3 646-220-199-70035
Profit before taxes 493 516 383 358 1 750
Income tax expense Minority interests -117-44 -108-41 -93-45 -3-38 -320-167
Net profit 332 367 246 318 1 263
43
Insurance - I/S details, 2004
INSURANCE SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 1021 2755264-8917 1151 404622-2-7816 1159019010-8832 1311 5779049-859 463 5 158855121-34075
Gross income 1 377 1 518 979 1 692 5 566
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -124-128-1-127-1 169-53 -129-36-1-35-1 240-227 -123-271-28-771-128 -13529-130-1 454-292 -511-162-2-160-4 633-6820
Profit before taxes -45 98 55 105 213
Income tax expense Minority interests -111 -35-4 -23-1 -16-1 -86-5
Net profit -55 58 30 89 122
44
AM - I/S details, 2004
ASSET MANAGEMENT SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 00300760 00141861 00011861 20950870 2 0131033352
Gross income 81 93 88 102 364
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -13202000 -14000000 -14101000 -13000000 -54200000
Profit before taxes 70 78 75 89 312
Income tax expense Minority interests -190 -210 -210 -230 -840
Net profit 51 58 53 66 228
45
KBL - I/S details, 2004
KBL epb SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 7201112975 4304809210 300336218517 3602312210217 181 010755537550
Gross income 187 158 193 209 747
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -12213104000 -1351158000 -14011-212001 -236-20-10-15001 -6321539002
Profit before taxes 78 35 64 -46 132
Income tax expense Minority interests -22-13 -7-6 -16-10 79 -38-21
Net profit 43 23 38 -30 74
46
Gevaert - I/S details, 2004
GEVAERT SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income -50011034 -50301018 -50204033 -40029036 -19053150121
Gross income 32 17 33 43 126
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -21000007 -18701000-69 -2700-3006 -37-5010021 -10320800-35
Profit before taxes 18 -63 13 22 -10
Income tax expense Minority interests 00 -20 -10 20 -20
Net profit 17 -65 12 25 -12
47
Holding Co - I/S details, 2004
HOLDING CO SEGMENT (in m euros) 1Q 04 2Q 04 3Q 04 4Q 04 FY2004
Net interest incomeGross earned premium, insuranceDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income -1402200117 -14010000121 -1400010108 -1302000123 -55015010469
Gross income 105 117 96 113 430
Operating ExpensesImpairments - o/w on loans and receivables - o/w on AFS assetsGross technical charges, insuranceCeded reinsurance resultShare in results, associated companies -117100000 -118000000 -109000000 -135-30-3000 -479-30-3000
Profit before taxes -13 -2 -13 -25 -52
Income tax expense Minority interests 00 00 -10 -20 -80
Net profit -12 -7 -13 -27 -59
48
CEE banking - I/S details, 1Q2004
1Q 2004 pro forma CSOB KB KH NLB
Net Statutory profit Net interest incomeDividend incomeNet gains from financial instruments at fair valueNet realised gains from available for sale assetsNet fee and commission incomeOther income 122 5791 2675 6615 28350 25016 805 54 491322 5842 78410 0554 412 51 036019 5431 11415 5864 044
Gross income 201 844 74 358 91 323
Operating ExpensesImpairmentsShare in result of associated companiesTaxes - 114 043- 3 7080- 28 216 - 59 559- 2 1112 168- 740 - 63 2119 128 559- 6 621
Net statutory profit 55 877 14 115 31 179
Profit contibution to Group Net statutory profitConsolidation adjustmentsMinority InterestsResults of capital allocation 42 027 55 877- 639- 7 697- 5 514 10 146 14 115- 360- 3 124- 485 11 631 31 179- 347- 7 973- 11 228
Profit contribution, Group shareROACROI 42 0274412 10 146256 11 6312923 6 383