KBC Groupe NV
KBC: XBRU (BEL)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€74.00 | Skbrsjs | Yxrcyhg |
Most Profitable Eurozone Bank
Business Strategy and Outlook
Over the past three years, KBC Group has been the most profitable bank that we cover in the eurozone. Only the Scandinavian banks have been more profitable in Europe as a whole. We believe that KBC can consistently generate returns on tangible equity in the midteens, comfortably exceeding our cost of equity estimate of around 10%.