KBC Group: Best European Bank 2024

KBC Group continues to lead the European banking sector through its innovative bank-insurance model, delivering a solid net profit of €925m in Q2 2024. The group’s financial strength is underpinned by geographic diversification across Western and Central Europe and a balanced revenue stream from banking and insurance. This strategic mix, alongside proactive hedging and a CET1 ratio of 15.1 percent, has enabled KBC to consistently outperform market expectations. A key part of its digital-first approach is its AI-driven assistant, Kate, which has significantly improved customer interaction. KBC’s innovative Kate Coins loyalty programme (initiated in 2023) has delivered close to three million coins to customers, redeemable for rewards and cashback. KBC Mobile, Belgium’s top banking app and ranked third globally, further strengthens its digital presence and enhances customer satisfaction. The group’s commitment to sustainability is evident in its alignment with the European Green Deal and recognition among the top 3 percent of global financial institutions for sustainable practices. KBC has financed projects valued at €19.3bn for environmental objectives and €7.4bn for social goals, including investments in healthcare, education, and renewable energy. KBC remains at the forefront of anti-money laundering efforts, employing advanced AI to enhance security, regulatory compliance, and risk management across its various operations. And, as CEO Johan Thijs points out, “KBC is priced to perfection on the stock market”. The CFI.co Judging Panel applauds KBC Group on the 2024 award Best European Bank.