KBC Groupe NV

Annual / Quarterly Financial Statement • Mar 31, 2016

40					1	EUR
Nr.	Date of the deposition	No. 0403.227.515		PP.	E.	D.	C 1.1
			ANNUAL ACCOUNTS IN EURO (2 decimals)
NAME:	KBC GROEP
Legal form: PLC
Address:	Havenlaan						Nr.: 2
Postal Code:	1080	City:	Sint-Jans-Molenbeek
Country: Belgium
	Register of Legal Persons (RLP) - Office of the commercial court at:			Brussel, Dutch-speaking
Internet address *:	www.kbc.com
						Company number:	0403.227.515
DATE	18/01/2016 publication of the partnership deed and the act changing the articles of association.						of the deposition of the partnership deed OR of the most recent document mentioning the date of
	ANNUAL ACCOUNTS approved by the General Meeting of				4/05/2016
	concerning the financial year covering the period from					till
				1/01/2015			31/12/2015
Previous period from till 1/01/2014 31/12/2014
							The amounts of the previous financial year are ** identical to those which have been previously published.
		are not
		/
	COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) and
	position with the enterprise, OF DIRECTORS, MANAGERS AND AUDITORS
LEYSEN Thomas
	Rosier 21, 2000 Antwerpen, Belgium
	Title : President of the board of directors
VLERICK Philippe
	Ronsevaalstraat 2, 8510 Bellegem, Belgium
	Title : Vice president of the board of directors
ALGOED Koen
	Jachthorenstraat 14, 3001 Heverlee, Belgium
Title : Director
	Mandate : 2/07/2015- 28/12/2015
BOSTOEN Alain
Title : Director	Coupure 126, 9000 Gent, Belgium

Enclosed to these annual accounts:

Total number of pages deposited: of service: 5.1, 5.2.1, 5.2.4, 5.3.4, 5.5.2, 5.17.2, 8, 9 Number of the pages of the standard form not deposited for not being

Signature (name and position)

THIJS Johan

Delegated director

* Optional statement.

** Delete where appropriate.

Signature (name and position)

LEYSEN Thomas

President of the board of directors

LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)

CORNU Jozef

Grouwesteenstraat 13, 9170 Sint-Gillis-Waas, Belgium Title : Director Mandate : - 7/05/2015

DE CEUSTER Marc

Valkenlaan 34, 2950 Kapellen (Antw.), Belgium Title : Director Mandate : - 28/12/2015

Izegemstraat 203, 8770 Ingelmunster, Belgium Title : Director DEPICKERE Franky

DISCRY Luc

Bosduifdreef 4, 2970 Schilde, Belgium Title : Director

DONCK Frank

Floridalaan 62, 1180 Ukkel, Belgium Title : Director

KIRALY Julia

Kossuth Lajos ter 18, 1055 Budapest, Hungary Title : Director

MORLION Lode

Weststraat 18, 8647 Lo-Reninge, Belgium Title : Director

PAPIRNIK Vladimira

W. 8th Place 401, 60521 Hinsdale Illinois, United States of America Title : Director

Voosdonk 21, 2801 Heffen, Belgium Title : Delegated director POPELIER Luc

LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page)

ROUSSIS Theodoros

Poederstraat 51, 2370 Arendonk, Belgium Title : Director

THIJS Johan

Moorsemsestraat 260, 3130 Betekom, Belgium Title : Delegated director

VAN KERKHOVE Ghislaine

Wegvoeringstraat 62, 9230 Wetteren, Belgium Title : Director

VAN RIJSSEGHEM Christine

Avenue du Manoir 59, 1410 Waterloo, Belgium Title : Delegated director

VANTHEMSCHE Piet

Tombergstraat 57, 1750 Sint-Martens-Lennik, Belgium Title : Director

WITTEMANS Marc

Beatrijslaan 91, 3110 Rotselaar, Belgium Title : Director

ERNST & YOUNG Bedrijfsrevisoren BCVBA 0446.334.711

De Kleetlaan 2, 1831 Diegem, Belgium Title : Auditor, Number of membership : B00160 Mandate : 2/05/2013- 4/05/2016 Represented by: WEYMEERSCH Christel 1.

and/or Ven.vaste vertegenw van Christel Weymeersch bvba , 1831 Diegem, Belgium

HUBIN Jean-François Ven.vaste vertegenw van Jean-François Hubin & Co sprl , 1831 Diegem, Belgium 2.

DECLARATION ABOUT SUPPLEMENTARY AUDITING OR ADJUSTMENT MISSION

The managing board declares that the assignment neither regarding auditing nor adjusting has been given to a person who was not authorised by law pursuant to art. 34 and 37 of the Law of 22nd April 1999 concerning the auditing and tax professions.

The annual accounts have have not * / been audited or adjusted by an external accountant or auditor who is not a statutory auditor.

If YES, mention here after: name, first names, profession, residence-address of each external accountant or auditor, the number of membership with the professional Institute ad hoc and the nature of this engagement:

• A. Bookkeeping of the undertaking**,
• B. Preparing the annual accounts**,
• C. Auditing the annual accounts and/or
• D. Adjusting the annual accounts.

If the assignment mentioned either under A or B is performed by authorised accountants or authorised accountants-tax consultants, information will be given on: name, first names, profession and residence-address of each authorised accountant or accountanttax consultant, his number of membership with the Professional Institute of Accountants and Tax consultants and the nature of this engagement.

Name, first name, profession, residence-address	Number of membership	Nature of the engagement (A, B, C and/or D)

^* Delete where appropriate.

^** Optional disclosure.

BALANCE SHEET

	Notes	Codes	Period	Previous period
ASSETS
FIXED ASSETS		20/28	18.139.742.088,91	17.441.522.878,40
Formation expenses	5.1	20
Intangible fixed assets	5.2	21	159.750.861,86	225.816.157,07
Tangible fixed assets	5.3	22/27	104.855.786,27	138.016.961,52
Land and buildings		22	30.609.821,08	32.226.020,59
Plant, machinery and equipment		23	59.934.746,93	82.173.227,42
Furniture and vehicles		24	12.855.758,27	12.470.706,55
Leasing and other similar rights		25
Other tangible fixed assets		26	461.679,81	500.813,83
Assets under construction and advance payments		27	993.780,18	10.646.193,13
	5.4/
Financial fixed assets	5.5.1	28	17.875.135.440,78	17.077.689.759,81
Affiliated enterprises	5.14	280/1	17.873.997.247,24	17.076.650.566,27
Participating interests		280	14.043.698.579,11	14.529.378.415,98
Amounts receivable		281	3.830.298.668,13	2.547.272.150,29
Other enterprises linked by participating interests	5.14	282/3	914.657,54	815.657,54
Participating interests		282	914.657,54	815.657,54
Amounts receivable		283
Other financial assets		284/8	223.536,00	223.536,00
Shares		284	223.536,00	223.536,00
Amounts receivable and cash guarantees		285/8
CURRENT ASSETS		29/58	260.971.221,66	524.054.923,59
Amounts receivable after more than one year		29	150.763,22	690.180,86
Trade debtors		290
Other amounts receivable		291	150.763,22	690.180,86
Stocks and contracts in progress		3	595.233,02	670.259,67
Stocks		30/36	595.233,02	670.259,67
Raw materials and consumables		30/31
Work in progress		32
Finished goods		33
Goods purchased for resale		34	595.233,02	670.259,67
Immovable property intended for sale		35
Advance payments		36
Contracts in progress		37
Amounts receivable within one year		40/41	10.463.924,81	68.795.041,62
Trade debtors		40	5.617.764,42	32.677.361,12
Other amounts receivable		41	4.846.160,39	36.117.680,50
Current investments	5.5.1/ 5.6	50/53		22.523,67
Own shares		50		22.523,67
Other investments and deposits		51/53
Cash at bank and in hand		54/58	163.164.516,87	404.563.460,06
Deferred charges and accrued income	5.6	490/1	86.596.783,74	49.313.457,71
TOTAL ASSETS		20/58	18.400.713.310,57	17.965.577.801,99

Nr. 0403.227.515 C 2.2

EQUITY AND LIABILITIES	Notes	Codes	Period	Previous period
EQUITY		10/15	13.669.703.979,96	11.486.258.673,26
Capital	5.7	10	1.454.298.014,35	1.453.231.742,35
Issued capital		100	1.454.298.014,35	1.453.231.742,35
Uncalled capital		101
Share premium account		11	5.422.640.121,69	5.409.406.705,69
Revaluation surpluses Reserves		12 13	232,00 1.466.201.036,31	1.466.014.922,76
Legal reserve
Reserves not available		130 131	145.429.801,44 1.338.625,03	145.323.174,24 1.361.148,70
In respect of own shares held		1310		22.523,67
Other		1311	1.338.625,03	1.338.625,03
Untaxed reserves		132	190.133.089,69	190.053.603,34
Available reserves		133	1.129.299.520,15	1.129.276.996,48
Accumulated profits (losses) (+)/(-)		14	5.326.564.575,61	3.157.605.302,46
Investment grants		15
Advance to associates on the sharing out of the assets		19
PROVISIONS AND DEFERRED TAXES		16	12.752.561,63	19.990.252,68
Provisions for liabilities and charges		160/5	12.752.561,63	19.990.252,68
Pensions and similar obligations		160	11.557.886,55	16.766.060,53
Taxation		161
Major repairs and maintenance		162
Other liabilities and charges	5.8	163/5	1.194.675,08	3.224.192,15
Deferred taxes		168
AMOUNTS PAYABLE		17/49	4.718.256.768,98	6.459.328.876,05
Amounts payable after more than one year	5.9	17	3.079.934.031,86	4.878.036.535,00
Financial debts		170/4	3.079.919.666,86	4.878.025.420,00
Subordinated loans		170	3.079.919.666,86	4.297.274.279,12
Unsubordinated debentures		171		580.751.140,88
Leasing and other similar obligations		172
Credit institutions		173
Other loans		174
Trade debts		175
Suppliers		1750
Bills of exchange payable		1751
Advances received on contracts in progress		176
Other amounts payable		178/9	14.365,00	11.115,00
Amounts payable within one year		42/48	1.583.314.803,28	1.362.662.084,86
Current portion of amounts payable after more than one year falling due within one year	5.9	42	480.477.257,21
Financial debts		43	937.000.000,00	376.000.000,00
Credit institutions		430/8
Other loans		439	937.000.000,00	376.000.000,00
Trade debts		44	32.554.792,83	38.539.663,68
Suppliers		440/4	32.554.792,83	38.539.663,68
Bills of exchange payable		441
Advances received on contracts in progress		46
Taxes, remuneration and social security	5.9	45	77.967.770,44	80.186.792,61
Taxes		450/3	6.878.254,39	3.121.934,27
Remuneration and social security		454/9	71.089.516,05	77.064.858,34
Other amounts payable		47/48	55.314.982,80	867.935.628,57
Accrued charges and deferred income	5.9	492/3	55.007.933,84	218.630.256,19
TOTAL LIABILITIES		10/49	18.400.713.310,57	17.965.577.801,99

INCOME STATEMENT

	Notes	Codes	Period	Previous period
Operating income		70/74	1.059.655.067,64	1.081.931.476,77
Turnover	5.10	70	970.807.140,50	1.025.867.789,34
Increase (decrease) in stocks of finished goods, work and contracts in progress (+)/(-)		71
Own construction capitalised		72	60.697.168,85	49.120.657,16
Other operating income	5.10	74	28.150.758,29	6.943.030,27
Operating charges		60/64	1.115.040.534,05	1.153.203.571,54
Raw materials, consumables		60	159.412,26	155.497,46
Purchases		600/8	31.360,78	831.980,22
Decrease (increase) in stocks (+)/(-)		609	128.051,48	-676.482,76
Services and other goods		61	577.092.909,92	568.362.665,72
Remuneration, social security costs and pensions (+)/(-)	5.10	62	430.011.502,67	435.068.298,73
Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets		630	110.195.078,54	117.521.510,67
Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs) (+)/(-)		631/4
Provisions for risks and charges - Appropriations (uses and write-backs) (+)/(-)	5.10	635/7	-7.248.154,79	983.846,24
Other operating charges	5.10	640/8	4.829.785,45	31.111.752,72
Operation charges carried to assets as restructuring costs (-)		649
Operating profit (loss) (+)/(-)		9901	-55.385.466,41	-71.272.094,77
Financial income		75	3.366.153.497,20	1.441.234.917,72
Income from financial fixed assets		750	3.223.606.590,29	1.354.287.425,93
Income from current assets		751	155.948,70	4.494.969,52
Other financial income	5.11	752/9	142.390.958,21	82.452.522,27
Financial charges	5.11	65	1.144.123.495,38	443.586.114,66
Debt charges		650	1.128.389.643,00	431.716.052,37
Amounts written down on current assets except stocks, contracts in progress and trade debtors (+)/(-)		651
Other financial charges		652/9	15.733.852,38	11.870.062,29
Gain (loss) on ordinary activities before taxes (+)/(-)		9902	2.166.644.535,41	926.376.708,29

		Codes	Period	Previous period
Extraordinary income		76	51.238.231,36	158.064.895,16
Write-back of depreciation and of amounts written down intangible and tangible fixed assets		760
Write-back of amounts written down financial fixed assets		761
Write-back of provisions for extraordinary liabilities and charges		762		1.000.000,00
Gains on disposal of fixed assets		763	23.260.240,35	157.055.102,82
Other extraordinary income		764/9	27.977.991,01	9.792,34
Extraordinary charges		66	27.351.842,53	1.224.012,02
Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets		660	26.371.643,45
Amounts written down financial fixed assets		661
Provisions for extraordinary liabilities and charges - Appropriations (uses) (+)/(-)		662
Loss on disposal of fixed assets		663		1.163.190,00
Other extraordinary charges	5.11	664/8	980.199,08	60.822,02
Extraordinary charges carried to assets as restructuring costs (-)		669
Profit (loss) for the period before taxes (+)/(-)		9903	2.190.530.924,24	1.083.217.591,43
Transfer from postponed taxes		780	162.794,58	740.025,55
Transfer to postponed taxes		680	4.212.530,74	2.357,72
Income taxes	5.12	67/77	5.865.630,86	4.110.530,16
Income taxes		670/3	7.642.635,73	5.419.139,78
Adjustment of income taxes and write-back of tax provisions		77	1.777.004,87	1.308.609,62
Profit (loss) for the period (+)/(-)		9904	2.180.615.557,22	1.079.844.729,10
Transfer from untaxed reserves		789
Transfer to untaxed reserves		689	79.486,35	79.421,00
Profit (loss) for the period available for appropriation (+)/(-)		9905	2.180.536.070,87	1.079.765.308,10

APPROPRIATION ACCOUNT

	Codes	Period	Previous period
Profit (loss) to be appropriated (+)/(-)	9906	5.338.141.373,33	4.006.481.278,42
Gain (loss) to be appropriated (+)/(-)	(9905)	2.180.536.070,8	1.079.765.308,10
Profit (loss) to be carried forward (+)/(-)	14P	7 3.157.605.302,4 6	2.926.715.970,32
Transfers from capital and reserves	791/2
from capital and share premium account	791
from reserves	792
Transfers to capital and reserves	691/2	106.627,20	144.872,41
to capital and share premium account	691
to the legal reserve	6920	106.627,20	144.872,41
to other reserves	6921
Profit (loss) to be carried forward (+)/(-)	(14)	5.326.564.575,61	3.157.605.302,4
Owner's contribution in respect of losses	794
Profit to be distributed	694/6	11.470.170,52	848.731.103,55
Dividends	694		835.561.316,00
Director's or manager's entitlements	695
Other beneficiaries	696	11.470.170,52	13.169.787,55

4.006.481.278,42

144.872,41

3.157.605.302,4

848.731.103,55

6

	Codes	Period	Previous period
CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS
Acquisition value at the end of the period	8052P	xxxxxxxxxxxxxxx	699.270.247,42
Movements during the period
Acquisitions, including produced fixed assets	8022	94.686.196,63
Sales and disposals	8032	156.848.454,86
Transfers from one heading to another (+)/(-)	8042
Acquisition value at the end of the period	8052	637.107.989,19
Depreciation and amounts written down at the end of the period	8122P	xxxxxxxxxxxxxxx	474.910.441,53
Movements during the period
Recorded	8072	72.630.226,51
Written back	8082
Acquisitions from third parties	8092
Cancelled owing to sales and disposals	8102	70.183.540,71
Transfers from one heading to another (+)/(-)	8112
Depreciation and amounts written down at the end of the period	8122	477.357.127,33
NET BOOK VALUE AT THE END OF THE PERIOD	211	159.750.861,86

	Codes	Period	Previous period
GOODWILL
Acquisition value at the end of the period	8053P	xxxxxxxxxxxxxxx	14.027.424,70
Movements during the period
Acquisitions, including produced fixed assets	8023
Sales and disposals	8033	13.926.164,97
Transfers from one heading to another (+)/(-)	8043
Acquisition value at the end of the period	8053	101.259,73
Depreciation and amounts written down at the end of the period	8123P	xxxxxxxxxxxxxxx	12.571.073,52
Movements during the period
Recorded	8073	1.456.351,18
Written back	8083
Acquisitions from third parties	8093
Cancelled owing to sales and disposals	8103	13.926.164,97
Transfers from one heading to another (+)/(-)	8113
Depreciation and amounts written down at the end of the period	8123	101.259,73
NET BOOK VALUE AT THE END OF THE PERIOD	212

STATEMENT OF TANGIBLE FIXED ASSETS

	Codes	Period	Previous period
LAND AND BUILDINGS
			37.350.834,76
Acquisition value at the end of the period	8191P	xxxxxxxxxxxxxxx
Movements during the period
Acquisitions, including produced fixed assets	8161	43.995,64
Sales and disposals	8171
Transfers from one heading to another (+)/(-)	8181
Acquisition value at the end of the period	8191	37.394.830,40
Revaluation surpluses at the end of the period	8251P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8211
Acquisitions from third parties	8221
Cancelled	8231
Transfers from one heading to another (+)/(-)	8241
Revaluation surpluses at the end of the period	8251
Depreciation and amounts written down at the end of the period	8321P	xxxxxxxxxxxxxxx	5.124.814,17
Movements during the period
Recorded	8271	1.660.195,15
Written back	8281
Acquisitions from third parties	8291
Cancelled owing to sales and disposals	8301
Transfers from one heading to another (+)/(-)	8311
Depreciation and amounts written down at the end of the period	8321	6.785.009,32
NET BOOK VALUE AT THE END OF THE PERIOD	(22)	30.609.821,08

	Codes	Period	Previous period
PLANT, MACHINERY AND EQUIPMENT
Acquisition value at the end of the period	8192P	xxxxxxxxxxxxxxx	296.823.668,83
Movements during the period
Acquisitions, including produced fixed assets	8162	44.102.202,54
Sales and disposals	8172	73.261.222,07
Transfers from one heading to another (+)/(-)	8182	31.002,43
Acquisition value at the end of the period	8192	267.695.651,73
Revaluation surpluses at the end of the period	8252P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8212
Acquisitions from third parties	8222
Cancelled	8232
Transfers from one heading to another (+)/(-)	8242
Revaluation surpluses at the end of the period	8252
Depreciation and amounts written down at the end of the period	8322P	xxxxxxxxxxxxxxx	214.650.441,41
Movements during the period
Recorded	8272	48.961.864,09
Written back	8282
Acquisitions from third parties	8292
Cancelled owing to sales and disposals	8302	55.851.400,70
Transfers from one heading to another (+)/(-)	8312
Depreciation and amounts written down at the end of the period	8322	207.760.904,80
NET BOOK VALUE AT THE END OF THE PERIOD	(23)	59.934.746,93

	Codes	Period	Previous period
FURNITURE AND VEHICLES
Acquisition value at the end of the period	8193P	xxxxxxxxxxxxxxx	21.443.754,64
Movements during the period
Acquisitions, including produced fixed assets	8163	2.551.332,89
Sales and disposals	8173	872,14
Transfers from one heading to another (+)/(-)	8183
Acquisition value at the end of the period	8193	23.994.215,39
Revaluation surpluses at the end of the period	8253P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8213
Acquisitions from third parties	8223
Cancelled	8233
Transfers from one heading to another (+)/(-)	8243
Revaluation surpluses at the end of the period	8253
Depreciation and amounts written down at the end of the period	8323P	xxxxxxxxxxxxxxx	8.973.048,09
Movements during the period
Recorded	8273	2.165.576,93
Written back	8283
Acquisitions from third parties	8293
Cancelled owing to sales and disposals	8303	167,90
Transfers from one heading to another (+)/(-)	8313
Depreciation and amounts written down at the end of the period	8323	11.138.457,12
NET BOOK VALUE AT THE END OF THE PERIOD	(24)	12.855.758,27

	Codes	Period	Previous period
OTHER TANGIBLE FIXED ASSETS
Acquisition value at the end of the period	8195P	xxxxxxxxxxxxxxx	687.338,68
Movements during the period
Acquisitions, including produced fixed assets	8165	31.963,59
Sales and disposals	8175
Transfers from one heading to another (+)/(-)	8185
Acquisition value at the end of the period	8195	719.302,27
Revaluation surpluses at the end of the period	8255P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8215
Acquisitions from third parties	8225
Cancelled	8235
Transfers from one heading to another (+)/(-)	8245
Revaluation surpluses at the end of the period	8255
Depreciation and amounts written down at the end of the period	8325P	xxxxxxxxxxxxxxx	186.524,85
Movements during the period
Recorded	8275	71.097,61
Written back	8285
Acquisitions from third parties	8295
Cancelled owing to sales and disposals	8305
Transfers from one heading to another (+)/(-)	8315
Depreciation and amounts written down at the end of the period	8325	257.622,46
NET BOOK VALUE AT THE END OF THE PERIOD	(26)	461.679,81

	Codes	Period	Previous period
ASSETS UNDER CONSTRUCTION AND ADVANCED PAYMENTS
Acquisition value at the end of the period	8196P	xxxxxxxxxxxxxxx	10.646.193,13
Movements during the period
Acquisitions, including produced fixed assets	8166
Sales and disposals	8176
Transfers from one heading to another (+)/(-)	8186	-31.002,43
Acquisition value at the end of the period	8196	10.615.190,70
Revaluation surpluses at the end of the period	8256P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8216
Acquisitions from third parties	8226
Cancelled	8236
Transfers from one heading to another (+)/(-)	8246
Revaluation surpluses at the end of the period	8256
Depreciation and amounts written down at the end of the period	8326P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8276	9.621.410,52
Written back	8286
Acquisitions from third parties	8296
Cancelled owing to sales and disposals	8306
Transfers from one heading to another (+)/(-)	8316
Depreciation and amounts written down at the end of the period	8326	9.621.410,52
NET BOOK VALUE AT THE END OF THE PERIOD	(27)	993.780,18

STATEMENT OF FINANCIAL FIXED ASSETS

	Codes	Period	Previous period
AFFILIATED ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8391P	xxxxxxxxxxxxxxx	14.522.850.863,91
Movements during the period
Acquisitions, including produced fixed assets	8361
Sales and disposals	8371	485.680.068,87
Transfers from one heading to another (+)/(-)	8381
Acquisition value at the end of the period	8391	14.037.170.795,04
Revaluation surpluses at the end of the period	8451P	xxxxxxxxxxxxxxx	6.527.552,07
Movements during the period
Recorded	8411	232,00
Acquisitions from third parties	8421
Cancelled	8431
Transfers from one heading to another (+)/(-)	8441
Revaluation surpluses at the end of the period	8451	6.527.784,07
Amounts written down at the end of the period	8521P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8471
Written back	8481
Acquisitions from third parties	8491
Cancelled owing to sales and disposals	8501
Transfers from one heading to another (+)/(-)	8511
Amounts written down at the end of the period	8521
Uncalled amounts at the end of the period	8551P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8541
Uncalled amounts at the end of the period	8551
NET BOOK VALUE AT THE END OF THE PERIOD	(280)	14.043.698.579,11
AFFILIATED ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	281P	xxxxxxxxxxxxxxx	2.547.272.150,29
Movements during the period
Additions	8581	1.283.026.517,84
Repayments	8591
Amounts written down	8601
Amounts written back	8611
Exchange differences (+)/(-)	8621
Other (+)/(-)	8631
NET BOOK VALUE AT THE END OF THE PERIOD	(281)	3.830.298.668,13
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8651

	Codes	Period	Previous period
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8392P	xxxxxxxxxxxxxxx	815.657,54
Movements during the period
Acquisitions, including produced fixed assets	8362	99.000,00
Sales and disposals	8372
Transfers from one heading to another (+)/(-)	8382
Acquisition value at the end of the period	8392	914.657,54
Revaluation surpluses at the end of the period	8452P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8412
Acquisitions from third parties	8422
Cancelled	8432
Transfers from one heading to another (+)/(-)	8442
Revaluation surpluses at the end of the period	8452
Amounts written down et the end of the period	8522P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8472
Written back	8482
Acquisitions from third parties	8492
Cancelled owing to sales and disposals	8502
Transfers from one heading to another (+)/(-)	8512
Amounts written down at the end of the period	8522
Uncalled amounts at the end of the period	8552P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8542
Uncalled amounts at the end of the period	8552
NET BOOK VALUE AT THE END OF THE PERIOD	(282)	914.657,54
OTHER ENTERPRISES LINKED BY PARTICIPATING INTERESTS - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	283P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8582
Repayments	8592
Amounts written down	8602
Amounts written back	8612
Exchange differences (+)/(-)	8622
Other (+)/(-)	8632
NET BOOK VALUE AT THE END OF THE PERIOD	(283)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8652

	Codes	Period	Previous period
OTHER ENTERPRISES - PARTICIPATING INTERESTS AND SHARES
Acquisition value at the end of the period	8393P	xxxxxxxxxxxxxxx	223.536,00
Movements during the period
Acquisitions, including produced fixed assets	8363
Sales and disposals	8373
Transfers from one heading to another (+)/(-)	8383
Acquisition value at the end of the period	8393	223.536,00
Revaluation surpluses at the end of the period	8453P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8413
Acquisitions from third parties	8423
Cancelled	8433
Transfers from one heading to another (+)/(-)	8443
Revaluation surpluses at the end of the period	8453
Amounts written down at the end of the period	8523P	xxxxxxxxxxxxxxx
Movements during the period
Recorded	8473
Written back	8483
Acquisitions from third parties	8493
Cancelled owing to sales and disposals	8503
Transfers from one heading to another (+)/(-)	8513
Amounts written down at the end of the period	8523
Uncalled amounts at the end of the period	8553P	xxxxxxxxxxxxxxx
Movements during the period (+)/(-)	8543
Uncalled amounts at the end of the period	8553
NET BOOK VALUE AT THE END OF THE PERIOD	(284)	223.536,00
OTHER ENTERPRISES - AMOUNTS RECEIVABLE
NET BOOK VALUE AT THE END OF THE PERIOD	285/8P	xxxxxxxxxxxxxxx
Movements during the period
Additions	8583
Repayments	8593
Amounts written down	8603
Amounts written back	8613
Exchange differences (+)/(-)	8623
Other (+)/(-)	8633
NET BOOK VALUE AT THE END OF THE PERIOD	(285/8)
ACCUMULATED AMOUNTS WRITTEN OFF ON AMOUNTS RECEIVABLE AT THE END OF THE PERIOD	8653

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

List of both enterprises in wich the enterprise holds a participating interest (recorded in the heading 28 of assets) and other enterprises in which the enterprise holds rights (recorded in the headings 28 and 50/53 of assets) in the amount of at least 10% of the capital issued.

		Shares held by			Information from the most recent period for which annual accounts are available
NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves	Net result
	Number	%	%	financial statement	tary unit	(+) or (-) (in monetary units)
KBC BANK PLC Havenlaan 2 1080 Brussel 8 Belgium 0462.920.226				31/12/2014	EUR	10.012.614.336	1.685.438.657
Ordinary shares KBC VERZEKERINGEN PLC Professor Roger Van Overstraetenplein 2 3000 Leuven Belgium 0403.552.563	915228481	99,99	0,01	31/12/2014	EUR	1.868.008.086	293.059.767
Ordinary shares OMNIA PLC Mgr. Ladeuzeplein 15 3000 Leuven Belgium 0413.646.305	1002016	99,99	0,01	31/12/2014	EUR	2.401.324	309.749
Ordinary shares KBC ASSET MANAGEMENT PLC Havenlaan 2 1080 Brussel 8 Belgium 0469.444.267	1	0,01	99,99	31/12/2014	EUR	124.575.000	335.216.000
Ordinary shares KREDIETCORP SA FC Rue Notre Dame 37 L-2955 Luxembourg Luxembourg	2776160	48,14	51,86	31/12/2014	EUR	35.702.019	4.902.779
Ordinary shares KB CONSULT PLC Havenlaan 2 1080 Brussel 8 Belgium 0437.623.220		5250 100,00	0,00	31/12/2014	EUR	862.667	-10.157
Ordinary shares ARDA-IMMO PLC Interleuvenlaan 16 3001 Heverlee Belgium 0474.415.914	174	0,05	99,95	31/12/2014	EUR	3.516.375	323.614
Ordinary shares	61713	19,06	0,00

INFORMATION RELATING TO THE SHARE IN THE CAPITAL

SHARE IN THE CAPITAL AND OTHER RIGHTS IN OTHER COMPANIES

NAME, full address of the REGISTERED	Shares held by		Information from the most recent period for which annual accounts are available
OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER	directly		subsi diaries	Primary	Mone	Capital and reserves Net result
	Number %		%	financial statement	tary unit	(+) or (-) (in monetary units)
24+ PLC				31/12/2014	EUR	858.644	417.404
Pastoor Coplaan 100
2070 Zwijndrecht
Belgium
0895.810.836
Ordinary shares	3075	50,00	50,00

22/46

OTHER INVESTMENTS AND DEPOSIT, DEFFERED CHARGES AND ACCRUED INCOME (ASSETS)

	Codes	Period	Previous period
INVESTMENTS: OTHER INVESTMENTS AND DEPOSITS
Shares	51
Book value increased with the uncalled amount	8681
Uncalled amount	8682
Fixed income securities	52
Fixed income securities issued by credit institutions	8684
Fixed term deposit with credit institutions	53
Falling due
less or up to one month	8686
between one month and one year	8687
over one year	8688
Other investments not yet shown seperately	8689

DEFFERED CHARGES AND ACCRUED INCOME

Allocation of heading 490/1 of assets if the amount is significant.

Deferred Charges 31.157.225,52 Accrued Income 55.439.558,22

Period

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

STATEMENT OF CAPITAL

Social capital

Issued capital at the end of the period
Issued capital at the end of the period

Codes	Period	Previous period
100P	XXXXXXXXXXXXXX	1.453.231.742,35
(100)	1.454.298.014,35

	Codes	Amounts	Number of shares
Changes during the period:
Capital increase		1.066.272,00	306.400
Structure of the capital Different categories of shares
No-par shares		1.454.298.014,35	418.087.058
Registered shares	8702	XXXXXXXXXXXXXX	66.531.055
Bearer shares and/or dematerialized shares	8703	XXXXXXXXXXXXXX	351.556.003

	Codes	Uncalled capital	Capital called, but not paid
Capital not paid
Uncalled capital	(101)		XXXXXXXXXXXXXX
Capital called, but not paid	8712	XXXXXXXXXXXXXX
Shareholders having yet to pay up in full

	Codes	Period
OWN SHARES
Held by the company itself
Amount of capital held	8721
Number of shares held	8722
Held by the subsidiaries
Amount of capital held	8731	6,96
Number of shares held	8732	2
Commitments to issue shares
Following the exercising of CONVERSION RIGHTS
Amount of outstanding convertible loans	8740
Amount of capital to be subscribed	8741
Corresponding maximum number of shares to be issued	8742
Following the exercising of SUBSCRIPTION RIGHTS
Number of outstanding subscription rights	8745
Amount of capital to be subscribed	8746
Corresponding maximum number of shares to be issued	8747
Authorized capital, not issued	8751	696.103.433,56

STATEMENT OF CAPITAL AND STRUCTURE OF SHAREHOLDINGS

	Codes	Period
Shared issued, not representing capital
Distribution
Number of shares held	8761
Number of voting rights attached thereto	8762
Allocation by shareholder
Number of shares held by the company itself	8771
Number of shares held by its subsidairies	8781

STRUCTURE OF SHAREHOLDINGS OF THE ENTERPRISE AS AT THE ANNUAL BALANCING OF THE BOOKS, AS IT APPEARS FROM THE STATEMENT RECEIVED BY THE ENTERPRISE

See Annual Report

PROVISIONS FOR OTHER LIABILITIES AND CHARGES

Period ALLOCATION OF THE HEADING 163/5 OF LIABILITIES IF THE AMOUNT IS CONSIDERABLE Other provisions 465.000,00 Provision for disability benefits 386.673,35 Provision for future commitments 343.001,73

Financial debts	8801	480.477.257,21
Subordinated loans	8811
Unsubordinated debentures	8821	480.477.257,21
Leasing and other similar obligations	8831
Credit institutions	8841
Other loans	8851
Trade debts	8861
Suppliers	8871
Bills of exchange payable	8881
Advance payments received on contracts in progress	8891
Other amounts payable	8901
Total amounts payable after more than one year, not more than one year	(42)	480.477.257,21
Amounts payable after more than one year, between one and five years
Financial debts	8802
Subordinated loans	8812
Unsubordinated debentures	8822
Leasing and other similar obligations	8832
Credit institutions	8842
Other loans	8852
Trade debts	8862
Suppliers	8872
Bills of exchange payable	8882
Advance payments received on contracts in progress	8892
Other amounts payable	8902
Total amounts payable after more than one year, between one and five years	8912
Amounts payable after more than one year, over five years
Financial debts	8803	3.079.919.666,86
Subordinated loans	8813	3.079.919.666,8
Unsubordinated debentures	8823	6
Leasing and other similar obligations	8833
Credit institutions	8843
Other loans	8853
Trade debts	8863
Suppliers	8873
Bills of exchange payable	8883
Advance payments received on contracts in progress	8893
Other amounts payable	8903	14.365,00
Total amounts payable after more than one year, over five years	8913	3.079.934.031,86

	Codes	Period
AMOUNTS PAYABLE GUARANTEED (headings 17 and 42/48 of liabilities)
Amounts payable guaranteed by Belgian public authorities
Financial debts	8921
Subordinated loans	8931
Unsubordinated debentures	8941
Leasing and other similar obligations	8951
Credit institutions	8961
Other loans	8971
Trade debts	8981
Suppliers	8991
Bills of exchange payable	9001
Advance payments received on contracts in progress	9011
Remuneration and social security	9021
Other amounts payable	9051
Total amounts payable guaranteed by Belgian public authorities	9061
Amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets
Financial debts	8922
Subordinated loans	8932
Unsubordinated debentures	8942
Leasing and other similar obligations	8952
Credit institutions	8962
Other loans	8972
Trade debts	8982
Suppliers	8992
Bills of exchange payable	9002
Advance payments received on contracts in progress	9012
Taxes, remuneration and social security	9022
Taxes	9032
Remuneration and social security	9042
Other amounts payable	9052
Total amounts payable guaranteed by real guarantees given or irrevocably promised by the enterprise on its own assets	9062
AMOUNTS PAYABLE FOR TAXES, REMUNERATION AND SOCIAL SECURITY
Taxes (heading 450/3 of the liabilities)
Expired taxes payable	9072
Non expired taxes payable	9073	1.981.238,65
Estimated taxes payable	450	4.897.015,74
Remuneration and social security (heading 454/9 of the liabilities)
Amount due to the National Office of Social Security	9076
Other amounts payable relating to remuneration and social security	9077	71.089.516,05

Period

ACCRUED CHARGES AND DEFERRED INCOME

Allocation of the heading 492/3 of liabilities if the amount is considerable

Accrued charges 49.889.089,01 Deferred Income 5.118.844,83

OPERATING RESULTS

OPERATING RESULTS
	Codes	Period	Previous period
OPERATING INCOME
Net turnover Broken down by categories of activity
Services Allocation into geographical markets		970.807.140,50	1.025.867.789,34
Belgian customers		797.564.963,78	829.817.963,21
Customers E.U.		173.242.176,72	196.028.845,56
Customers outside E.U.			20.982,57
Other operating income
Total amount of subsidies and compensatory amounts obtained from public authorities	740
OPERATING COSTS
Employees for whom the company has submitted a DIMONA declaration or are recorded in the general personnel register
Total number at the closing date	9086	4.648	5.618
Average number of employees calculated in full-time equivalents	9087	5.092,0	5.169,5
Number of actual worked hours	9088	7.519.698	7.564.794
Personnel costs
Remuneration and direct social benefits	620	303.461.051,30	301.906.957,83
Employers' social security contributions	621	88.090.839,34	88.594.939,73
Employers' premiums for extra statutory insurances	622	16.414.382,49	22.990.802,69
Other personnel costs	623	22.041.524,90	21.575.598,48
Old-age and widows' pensions	624	3.704,64
Provisions for pensions
Additions (uses and write-back) (+)/(-)	635	-5.208.173,98	-757.372,48
Amounts written off
Stocks and contracts in progress
Recorded	9110
Written back	9111
Trade debtors
Recorded	9112
Written back	9113
Provisions for risks and charges

3.605.435,08 10.853.589,87

1.404.096,48 3.425.688,97

617

4,8 9.464 361.024,00

Additions	9115
Uses and write-back	9116
Other operating charges
Taxes related to operation	640
Other charges	641/8
Hired temporary staff and persons placed at the enterprise's disposal
Total number at the closing date	9096
Average number calculated as full-time equivalents	9097
Number of actual worked hours	9098

Charges to the enterprise ....................................................................................

20,1 39.705 1.458.893,00

8.296.513,24 7.312.667,00

1.540.302,26 29.571.450,46

FINANCIAL AND EXTRAORDINARY RESULTS

	Codes	Period	Previous period
FINANCIAL RESULTS
Other financial income
Amount of subsidies granted by public authorities, credited to income for the period
Capital subsidies	9125
Interest subsidies	9126
Allocation of other financial income
Other financial income		479.045,80	13.510,91
Additional Tier 1 Capital		81.549.999,99	64.122.876,71
Tier 2 Capital		37.239.976,22	3.917.567,44
Conversion Differences		15.271.666,03	13.276.378,97
Proceeds from loans granted		7.850.270,17
Amounts written down off loan issue expenses and repayment premiums	6501
Intercalary interests recorded as assets	6503
Value adjustments to current assets
Appropriations	6510
Write-backs	6511
Other financial charges
Amount of the discount borne by the enterprise, as a result of negotiating amounts receivable	653
Provisions of a financial nature
Appropriations	6560
Uses and write-backs	6561
Allocation of other financial charges
Other financial charges		1.289.742,04	151.193,00
Loss on the exercise of options		236.930,81	25.206,32
Exchange Differences		14.207.179,53	11.133.145,45

	Period
EXTRAORDINARY RESULTS
Allocation other extraordinary income
Other extraordinary income	7.473,22
Proceeds from sale of the Czech ICT department	27.970.517,79
Allocation other extraordinary charges
Other extraordinary costs	1.145,91
Expenditures related to previous years	979.053,17

INCOME TAXES AND OTHER TAXES

	Codes	Period
INCOME TAXE
Income taxes on the result of the current period	9134	7.523.432,42
Income taxes paid and withholding taxes due or paid	9135	4.026.732,94
Excess of income tax prepayments and withholding taxes recorded under assets	9136	16,01
Estimated additional taxes	9137	3.496.715,49
Income taxes on previous periods	9138	119.203,31
Taxes and withholding taxes due or paid	9139	95.831,67
Estimated additional taxes estimated or provided for	9140	23.371,64
In so far as income taxes of the current period are materially affected by differences between the profit before taxes, as stated in the annual accounts, and the estimated taxable profit
Movements in taxable reserves and provisions.		485.387,31
The specific tax regime regarding gains and losses and valuation gains on shares.		-23.027.000,86
The application of the DTI regime on dividends received.		-3.150.701.604,11
Disallowed expenses (other than write-downs, losses on shares and corporate taxes).		1.010.459.986,95

An indication of the effect of extraordinary results on the amount of income taxes relating to the current period

• gain on disposal of shares in financial fixed assets 23.260.240,35

	Codes	Period
Status of deferred taxes
Deferred taxes representing assets	9141	78.327.676,98
Accumulated tax losses deductible from future taxable profits	9142	78.327.676,98
Other deferred taxes representing assets
Deferred taxes representing liabilities	9144
Allocation of deferred taxes representing liabilities

	Codes	Period	Previous Period
THE TOTAL AMOUNT OF VALUE ADDED TAX AND TAXES BORNE BY THIRD PARTIES
The total amount of value added tax charged
To the enterprise (deductible)	9145	26.284.189,01	33.908.323,00
By the enterprise	9146	39.946.117,67	45.629.398,00
Amounts retained on behalf of third parties for
Payroll withholding taxes	9147	81.939.124,40	83.681.415,57
Withholding taxes on investment income	9148	122.784.400,70	5.506.794,69

	Code	Period
PERSONAL GUARANTEES GIVEN OR IRREVOCABLY PROMISED BY THE ENTERPRISE AS SECURITY FOR DEBTS AND COMMITMENTS OF THIRD PARTIES	9149
Of which
Bills of exchange in circulation endorsed by the enterprise	9150
Bills of exchange in circulation drawn or guaranteed by the enterprise	9151
Maximum amount for which other debts or commitments of third parties are guaranteed by the enterprise	9153
REAL GUARANTEES
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from the enterprise
Mortgages
Book value of the immovable proporties mortgaged	9161
Amount of registration	9171
Pledging on goodwill - amount of registration	9181
Pledging of other assets - Book value of other assets pledged	9191
Guarantees provided on future assets - Amount of assets involved	9201
Real guarantees given or irrevocably promised by the enterprise on its own assets as a security of debts and commitments from third parties
Mortgages
Book value of the immovable proporties mortgaged	9162
Amount of registration	9172
Pledging on goodwill - amount of registration	9182
Pledging of other assets - Book value of other assets pledged	9192
Guarantees provided on future assets - Amount of assets involved	9202
GOODS AND VALUES, NOT DISCLOSED IN THE BALANCE SHEET, HELD BY THIRD PARTIES IN THEIR OWN NAME BUT AT RISK TO AND FOR THE BENEFIT OF THE ENTERPRISE
SUBSTANCIAL COMMITMENTS TO ACQUIRE FIXED ASSETS
SUBSTANCIAL COMMITMENTS TO DISPOSE FIXED ASSETS
FORWARD TRANSACTIONS
Goods purchased (to be received)	9213
Goods sold (to be delivered)	9214
Currencies purchased (to be received)	9215
Currencies sold (to be delivered)	9216

INFORMATION RELATING TO TECHNICAL GUARANTEES, IN RESPECT OF SALES OR SERVICES

INFORMATION CONCERNING IMPORTANT LITIGATION AND OTHER COMMITMENTS NOT MENTIONED ABOVE

IF THEREIS A SUPPLEMENTARY RETIREMENTS OR SURVIVOR'S PENSION PLAN IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE, A BRIEF DESCRIPTION OF SUCH PLAN OF THE MEASURES TAKEN BY THE ENTERPRISE TO COVER THE RESULTING CHARGES

All members of staff are covered by a supplementary pension scheme that includes an additional death benefit, orphan's annuity and invalidity benefits. The amount covered under these schemes (which are defined benefit schemes) depends on the average final salary, number of years of service and age at the time of retirement.

These pension schemes are financed entirely by the employer through annual contributions that are recognised in the income statement.

RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE SHEET

IF THEREIS A SUPPLEMENTARY RETIREMENTS OR SURVIVOR'S PENSION PLAN IN FAVOUR OF THE PERSONNEL OR THE EXECUTIVES OF THE ENTERPRISE, A BRIEF DESCRIPTION OF SUCH PLAN OF THE MEASURES TAKEN BY THE ENTERPRISE TO COVER THE RESULTING CHARGES

These contributions, calculated on an actuarial basis using the aggregate cost method, are transferred to the Pensioenfonds KBC OFP (KBC pension fund for employees) and the Pensioenfonds Senior Management KBC OFP (KBC pension fund for senior management), whose specific task is to manage the accrued reserves, to pay out the supplementary pension benefit and to carry out the necessary administration.

With effect from 2014, a defined contribution plan was introduced that is mandatory for all new employees and optional for employees signed up to the aforementioned defined benefit plan. Since 2015, the defined benefit plan is therefore a closed plan (i.e. no new members can sign up to it). The new defined contribution plan is funded entirely by the employer. For contribution plans, a statutory minimum return is guaranteed: 3,25 % in 2015 when the plan is funded by the employer and 1,75% from 2016 on. The management of the reserves built up in this way, the payout of those reserves and the administration of the plan is also entrusted to the OFP Pensioenfonds KBC and the OFP Pensioenfonds Senior Management KBC.

In addition, staff may contribute to a supplementary pension scheme (defined contribution plan). It is based solely on members' personal contributions which are deducted directly from their salaries. The statutory guaranteed return in 2015 was 3,75% for employee contributions and will be 1,75% from 2016 on. Management of the reserves accrued in this way, their payment and associated administration is the responsibility of the Pensioenfonds KBC OFP and Pensioenfonds Senior Management KBC OFP.

	Code	Period
PENSIONS FUNDED BY THE ENTERPRISE
Estimated amount of the commitments resulting for the enterprise from past services	9220

Methods of estimation

......................... .. NATURE AND BUSINESS PURPOSE OF OFF-BALANCE SHEET ARRANGEMENTS

Provided the risks or benefits arising from such arrangements are material and where the disclosure of such risks or benefits is necessary for assessing the financial position of the company; if required, the financial impact of these arrangements have to be mentioned too:

KBC Group NV is the representative of a VAT unit.

KBC Group NV irrevocably and unconditionally guarantees all of the liabilities - referred to in Section 5 (c) of the Irish Companies (Amendment) Act 1986 - of the following Irish companies in respect of the financial year ending on 31 December 2013 allowing these companies to be eligible for exemption from certain disclosure requirements, pursant to Section 17 of the Irish Companies (Amendment) Act 1986 :

• KBC Financial Services (Ireland) Limited.

• KBC Fund Managemend Limited.

OTHER RIGHTS AND COMMITMENTS NOT REFLECTED IN THE BALANCE

	Codes	Period	Previous period
AFFILIATED ENTERPRISES
Financial fixed assets	(280/1)	17.873.997.247,24	17.076.650.566,27
Investments	(280)	14.043.698.579,11	14.529.378.415,98
Amounts receivable subordinated	9271	3.830.298.668,13	2.547.272.150,29
Other amounts receivable	9281
Amounts receivable	9291	1.037.804,50	18.245.644,53
After one year	9301
Within one year	9311	1.037.804,50	18.245.644,53
Current investments	9321
Shares	9331
Amounts receivable	9341
Amounts payable	9351	35.515.841,55	34.110.385,47
After one year	9361
Within one year	9371	35.515.841,55	34.110.385,47
Personal and real guarantees
Provided or irrevocably promised by the enterprise, as security for debts or commitments of affiliated enterprises	9381	114.169.736,00	167.654.406,00
Provided or irrevocably promised by affiliated enterprises as security for debts or	9391
commitments of the enterprise Other substancial financial commitments	9401
Financial results
Income from financial fixed assets	9421	3.223.575.733,79	1.354.287.425,93
Income from current assets	9431	1.554,13	4.492.769,00
Other financial income	9441	127.049.434,72
Debts charges	9461	445.089,96	6.002.437,00
Other financial charges	9471	137.392,15	680.622,71
Gains and losses on disposal of fixed assets
Obtained capital gains	9481	23.260.240,35	157.055.102,82
Obtained capital losses	9491
ENTERPRISES LINKED BY PARTICIPATING INTERESTS
Financial fixed assets	(282/3)	914.657,54	815.657,54
Investments Amounts receivable subordinated	(282) 9272	914.657,54	815.657,54
Other amounts receivable	9282
Amounts receivable	9292
After one year	9302
Within one year	9312
Amounts payable	9352	25.525,76
After one year	9362
Within one year	9372	25.525,76

TRANSACTIONS WITH RELATED PARTIES OUTSIDE NORMAL MARKET CONDITIONS

Mention of such operations if they are material, stating the amount of these transactions, the nature of the relationship with the related party and other information about the transactions necessary for the understanding of the financial position of the company:

Nil

	Codes	Period
DIRECTORS AND MANAGERS, INDIVIDUALS OR BODIES CORPORATE WHO CONTROL THE ENTERPRISE WITHOUT BEING ASSOCIATED THEREWITH OR OTHER ENTERPRISES CONTROLLED BY THESE PERSONS, OTHER ENTERPRISES CONTROLLED BY THE SUB B. MENTIONED PERSONS WITHOUT BEING ASSOCIATED THEREWITH
Amounts receivable from these persons	9500
Conditions on amounts receivable
Guarantees provided in their favour	9501
Guarantees provided in their favour - Main condition
Other significant commitments undertaken in their favour	9502
Other significant commitments undertaken in their favour - Main condition
Amount of direct and indirect remunerations and pensions, included in the income statement, as long as this disclosure does not concern exclusively or mainly, the situation of a single identifiable person
To directors and managers	9503	5.367.167,18
To former directors and former managers	9504

	Codes	Period
AUDITORS OR PEOPLE THEY ARE LINKED TO
Auditor's fees	9505	149.100,00
Fees for exceptional services or special missions executed in the company by the auditor
Other attestation missions	95061	49.542,00
Tax consultancy	95062	8.926,00
Other missions external to the audit	95063
Fees for exceptional services or special missions executed in the company by people they are linked to
Other attestation missions	95081
Tax consultancy	95082
Other missions external to the audit	95083

Mention related to article 133 paragraph 6 from the Companies Code

DERIVATIVES NOT MEASURED AT FAIR VALUE

ESTIMATE OF THE FAIR VALUE FOR EACH CATEGORY OF DERIVATIVE FINANCIAL INSTRUMENTS THAT ARE NOT MEASURED ON THE BASIS OF THE FAIR VALUE IN THE ECONOMIC TRAFFIC, INDICATING THE EXTENT AND THE NATURE OF THE INSTRUMENTS

Period FX swap 268.847,53

INFORMATION RELATING TO CONSOLIDATED ACCOUNTS

INFORMATION THAT MUST BE PROVIDED BY EACH COMPANY, THAT IS SUBJECT OF COMPANY LAW ON THE CONSOLIDATED ANNUAL ACCOUNTS OF ENTERPRISES

The enterprise has drawn up publiced a consolidated annual statement of accounts and a management report*

The enterprise has not published a consolidated annual statement of accounts and a management report, since it is exempt for this obligation for the following reason*

The enterprise and its subsidiaries on consolidated basis exceed not more than one of the limits mentioned in art. 16 of Company Law*

The enterprise itself is a subsidiary of an enterprise which does prepare and publish consolidated accounts, in which her yearly statement of accounts is included*

If yes, justification of the compliance with all conditions for exemption set out in art. 113 par. 2 and 3 of Company Law:

Name, full address of the registered office and, for an enterprise governed by Belgian Law, the company number of the parent company preparing and publishing the consolidated accounts required:

INFORMATION TO DISCLOSE BY THE REPORTING ENTERPRISE BEING A SUBSIDIARY OR A JOINT SUBSIDIARY

Name, full address of the registered office and, for an enterprise governed by Belgian Law, the company number of the parent company(ies) and the specification whether the parent company(ies) prepare(s) and publish(es) consolidated annual accounts in which the annual accounts of the enterprise are included**

If the parent company(ies) is (are) (an) enterprise(s) governed by foreign law disclose where the consolidated accounts can be obtained**

^* Delete where no appropriate.

^** Where the accounts of the enterprise are consolidated at different levels, the information should be given for the consolidated aggregate at the highest level on the one hand and the lowest level on the other hand of which the enterprise is a subsidiary and for which consolidated accounts are prepared and published.

SOCIAL REPORT

Numbers of joint industrial committees which are competent for the enterprise: 310

STATEMENT OF THE PERSONS EMPLOYED

EMPLOYEES FOR WHOM THE COMPANY HAS SUBMITTED A DIMONA DECLARATION OR ARE RECORDED IN THE GENERAL PERSONNEL REGISTER

During the period	Codes	Total	1. Men	2. Women
Average number of employees
Full-time	1001	2.839,0	2.102,0	737,0
Part-time	1002	1.320,0	450,0	870,0
Total of full-time equivalents (FTE)	1003	3.820,5	2.431,9	1.388,6
Number of hours actually worked
Full-time	1011	4.112.187	3.098.703	1.013.484
Part-time	1012	1.312.574	440.721	871.853
Total	1013	5.424.761	3.539.424	1.885.337
Personnel costs
Full-time	1021	288.624.813,33	221.110.233,17	67.514.580,16
Part-time	1022	87.467.858,61	31.355.796,53	56.112.062,08
Total	1023	376.092.671,94	252.466.029,70	123.626.642,24
Advantages in addition to wages	1033	6.724.523,42	4.514.083,51	2.210.439,91

During the previous period	Codes	P. Total	1P. Men	2P. Women
Average number of employees	1003	3.815,2	2.422,5	1.392,7
Number of hours actually worked	1013	5.351.758	3.485.610	1.866.148
Personnel costs	1023	376.041.378,83	253.684.733,35	122.356.645,48
Advantages in addition to wages	1033	7.160.929,50	4.830.900,52	2.330.028,98

At the closing date of the period	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
Number of employees	105	2.870	1.297	3.841,8
By nature of the employment contract
Contract for an indefinite period	110	2.865	1.295	3.835,5
Contract for a definite period	111	5	2	6,3
Contract for the execution of a specifically assigned work	112
Replacement contract	113
According to the gender and by level of education Male	120	2.117	436	2.439,2
primary education 1200
secondary education	1201	211	138	308,0
higher education (non-university)	1202	879	192	1.025,9
university education	1203	1.027	106	1.105,3
Female	121	753	861	1.402,6
primary education	1210
secondary education	1211	78	204	216,1
higher education (non-university)	1212	291	381	585,4
university education	1213	384	276	601,1
By professional category
Management staff	130	68	1	68,4
Employees	134	2.802	1.296	3.773,4
Workers	132
Other	133

HIRED TEMPORARY STAFF AND PERSONNEL PLACED AT THE ENTERPRISE'S DISPOSAL

During the period		1. Temporary personnel	2. Persons placed at the disposal of the enterprise
Average number of employees	150	4,8
Number of hours actually worked	151	9.464
Charges of the enterprise	152	361.024,00

TABLE OF PERSONNEL CHANGES DURING THE PERIOD

ENTRIES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
The number of employees for whom the company has submitted a DIMONA declaration or are recorded in the personnel register during the financial year in the general personnel register	205	284	73	342,1
By nature of the employment contract
Contract for an indefinite period	210	281	72	338,2
Contract for a definite period	211	3	1	3,9
Contract for the execution of a specifically assigned work	212
Replacement contract	213

DEPARTURES	Codes	1. Full-time	2. Part-time	3. Total in full-time equivalents
The number of employees with a in the DIMONA declaration indicated or in the general personnel register listed date of termination of the contract during the financial year	305	212	145	302,8
By nature of the employment contract
Contract for an indefinite period	310	210	145	300,8
Contract for a definite period	311	2		2,0
Contract for the execution of a specifically assigned work	312
Replacement contract	313
According to the reason for termination of the employment contract
Retirement	340	33	94	84,9
Unemployment with company allowance	341
Dismissal	342	8	4	10,8
Other reason	343	171	47	207,1
Of which the number of persons who continue to render services to the enterprise at least half-time on a self-employed basis	350

INFORMATION WITH REGARD TO TRAINING RECEIVED BY EMPLOYEES DURING THE PERIOD

Total number of official advanced professional training projects at company expense	Codes	Male	Codes	Female
Number of participating employees	5801	1.709	5811	1.141
Number of training hours	5802	34.715	5812	18.085
Costs for the company	5803	5.452.980,00	5813	3.640.638,00
of which gross costs directly linked to the training	58031	5.452.980,00	58131	3.640.638,00
of which paid contributions and deposits in collective funds	58032		58132
of which received subsidies (to be deducted)	58033		58133
Total number of less official and unofficial advance professional training projects at company expense
Number of participating employees	5821	1.540	5831	1.064
Number of training hours	5822	6.740	5832	5.202
Costs for the company	5823	924.600,00	5833	638.815,00
Total number of initial professional training projects at company expense
Number of participating employees	5841		5851
Number of training hours	5842		5852
Costs for the company	5843		5853

I. GENERAL VALUATION RULES

In accordance with Article 28 §1 of the Royal Decree of 30 January 2001 for implementing the Companies Code, the directors resolve as follows.

GENERAL

As regards all matters subject to binding law, the general principles laid down in that royal decree shall apply, especially those contained in Chapter II ('Valuation Rules').

As regards those matters for which the law lays down suppletive rules and provided the law confers a choice on the company, the directors resolve that the specific accounting policies should be implemented as set out below.

Insofar as the directors should be of the view that any cases are insufficiently material to warrant a suppletive or derogative ruling and no explicit valuation principle is provided for them in these rules, they shall be dealt with according to the same method types as are contained in the following, and no specific remark will be added in this regard.

The financial year runs from 1 January through 31 December.

The balance sheet and the profit and loss account are prepared annually in euros.

II. ASSETS

1. FORMATION EXPENSES

Capital increase expenses are directly recognised in full in the result of the financial year in which the capital increase takes place.

2. INTANGIBLE FIXED ASSETS

2.1 General

All intangible fixed assets are recorded at acquisition cost, less accumulated amortisation.

Intangible fixed assets are amortised on a straight-line, daily basis.

Supplementary or extraordinary amortisation charges are applied if, due to changes in economic or technological circumstances, the relevant carrying value exceeds the value in use.

When intangible fixed assets are sold, realised gains or losses are taken immediately to the income statement.

If these assets are permanently withdrawn from use, the remaining amount to be written off is charged directly to profit or loss.

2.2 Goodwill

'Goodwill' means:

• The positive difference between the acquisition price and the net value of the company (or branch of activity) acquired.

• The positive difference between the contract value of a contribution in kind and its net worth.

Capitalised goodwill is amortised according to the straight-line method over a period of five years, unless the Board of Directors decides otherwise.

2.3 Software

In order to optimise the synergy effect of the KBC merger in Belgium, in principle (and apart from possible exceptions), all software is centralized in KBC Group NV, with the costs of using the software being charged on to users according to actual use and on a 'cost-sharing' basis.

From financial year 2004, the entire cost of all acquisitions of software will be capitalised provided the conditions for capitalisation have been satisfied. Other expenditure relating to the acquisition of software is also capitalised and amortised over the software's economic life. The following distinctions are made as regards software:

System software

'System software' is the initial software linked to the acquisition of hardware, whose installation is needed for the hardware to function. It is software that governs internal operation of the computer and ensures communication with the configuration or the network, and thus includes operating systems, support software and compilers. By purchasing the hardware, KBC generally acquires a lifetime user's licence.

System software is amortised at the same rate as hardware, i.e. over three years from the time it is available for use, according to the straight-line method.

Standard software

'Standard software' means software purchased from third parties, more particularly the 'applications software' referred to by the Belgian Commission for Accounting Standards (CAS), which includes product-linked software, management software, database software, communications software, infrastructure software, security software and development software, in other words, all software that is not operating software and that has a useful life of several years.

Standard software is capitalised and amortised using the straight-line method over five years from the time it is available for use. Core systems with a longer life are amortised straight line over an eight-year period. 'Core systems' are standard types of software including back-end data applications for processing operations during the day and updates of general ledger balances on the mainframe computer. Examples of such core systems include the applications used for processing deposits, loans and credit, interfaces with the general ledger and reporting tools.

Customised and tailor-made software

Some purchased software programs and/or software models are customised before being delivered or put into use. This type of software, developed on a bespoke basis as an addition to existing standard software, is referred to in its entirety as 'customised software'. 'Tailor-made software' means customised software that has been developed from scratch at the request of the bank/insurance to the bank's/insurance's specifications, and not added to existing software.

Recourse is often made to both external and internal information technology experts for this sort of development.

All charges relating to continuity projects, as well as research expenses for investments, are recorded directly in the income statement. However, development expenses (both internal and external) for investments are capitalised as an intangible fixed asset and amortised over a period of five years where the following conditions are met:

• To contribute to the business activities of the company;
• To be of future utility;
• The price must be identifiable separately;
• The software will be used in a durable manner for the business.

An investment project is a project that:

• is an introduction of or a replacement for a major business activity;
• is large in scope.

Core systems with a longer life are amortised straight line over an eight-year period. 'Core systems' are standard types of software including back-end data applications for processing operations during the day and updates of general ledger balances on the mainframe computer. Examples of such core systems include the applications used for processing deposits, loans and credit, interfaces with the general ledger and reporting tools.

Expenses incurred subsequently relative to customised and tailor-made software are recorded as expenses unless it is probable that the outlay has a future additional utility for the company compared to the initial assessment of the future utility or return. The expense must also be capable of being separately and reliably allocated to the already capitalised software. Where these conditions are met, the additional expense can then be capitalised and amortised over the asset's residual life. Amortisation is not recognised until such time as the asset is available for use.

3. TANGIBLE FIXED ASSETS

3.1 General

All tangible fixed assets are recorded at acquisition cost, less accumulated depreciation. Tangible fixed assets are depreciated straight line on a daily basis.

All tangible fixed assets are recorded at acquisition cost, including ancillary, directly attributable costs (acquisition costs, non-deductible VAT, demolition expenses, etc.). These additional costs are also written off over the life of the asset.

Supplementary or extraordinary depreciation charges are applied if, due to changes in economic or technological circumstances, the carrying value exceeds the value in use.

When tangible fixed assets are sold, realised gains or losses are recognized immediately in the income statement.

When the asset is permanently withdrawn from use, the remaining amount to be written off is charged directly to profit or loss. Tangible fixed assets that demonstrate a long-lasting and sustainable capital gain compared to their carrying value may be revalued. This capital gain is written off over the average residual useful life of the asset in question.

3.2 Movable property

3.2.1 Difference between charges and investments

The acquisition cost of tangible assets is determined by individualization of the cost of each component. Each asset listed on an internal summary is capitalised regardless of acquisition cost. The criteria for including an asset on this list include the unit price, the relative materiality of the type of article and the need for individual follow-up.

For works of art, the limit is 2 500 euros (excluding VAT). If the cost is between 250 and 2 500 euros, however, the item is considered as 'decoration' and capitalised and written off over ten years according to the straight-line method as in the case of furniture. Decorative items costing less than 250 euros are recorded as charges.

3.2.2 Furniture and vehicles

Since financial year 2006, moveable property (mainly furniture) used on administrative premises of KBC Bank and KBC Insurance has been centrally purchased, capitalised and managed.

Furniture is depreciated at 10% over ten years according to the straight-line method.

Since financial year 2007, vehicles have also been capitalised. Vehicles are depreciated at 25%, including non-deductible VAT, on a straight-line basis over four years.

3.2.3 Plant, machinery and equipment in buildings owned by the company

Distinctions are made among various types of plant, each being depreciated at a specific rate (in line with customary practice). It is standard practice to depreciate plant, machinery and equipment designated as hardware according to the straight-line method over a period of three years, such as in the case of personal computers, printers and servers. Machines that are leased are also written off over three years.

Exceptions to this rule:

• Alarm installations:10 years

• Telephone switchboards: 5 years

• Cabling: 5 years - Industrial plant:10 years
• ATMs and deposit machines: 5 years

4. FINANCIAL FIXED ASSETS AND CURRENT INVESTMENTS

4.1 Participating interests and other portfolio securities

Participating interests and shares are valued at acquisition cost, per set identified. The securities sold are valued using the method of individualisation. Additional costs incurred on acquisition of securities are charged immediately to the results for the financial year. When the securities are valued at the end of the financial year and a decline in value is notified and that this decline is considered as long-lasting and sustainable, an impairment equal to the decline in value will be recorded for the securities in question. To establish the sustainable nature of the decline in value, the Board of Directors may use:

• for listed securities:
• the trend in the share price;
• changes in net worth according to the annual accounts;

• the fair value based on the performance of and outlook with regard to profitability

• for unlisted securities:

• changes in net worth according to the annual accounts;

• the fair value based on the performance of and outlook with regard to profitability

If a security on which such an impairment had already been recorded demonstrate a lasting increase in value, the impairment will be reversed in whole or in part.

Participating interests, shares and profit-sharing certificates classified as financial fixed assets may be revalued if, in light of their usefulness to the company, they demonstrate an incontestable and lasting increase in value.

Listed shares and other variable-yield securities are valued at the lower of their acquisition cost or market value at balance sheet date. Other securities are valued at least once a year, based on the annual accounts for the past year. File administrators are responsible for ensuring that any significant negative changes during the course of the year are also dealt with.

4.2 Own shares (Treasury shares)

The treasury shares the KBC group has or may have in portfolio are made up of two types of shares that must be valued and monitored separately:

• Treasury shares held for the purpose of employee stock option plans are valued at their acquisition cost. If the options are not exercised on the expiry date (because the share price is too low), the shares in question will be cancelled, without having any impact on the result. If there is a legal obstacle blocking cancellation of the shares in question, these shares will be valued as shares that were purchased under the KBC share buyback programm (see below).

When the share options are exercised (the first time was in 2004), the treasury shares repurchased for this purpose are sold. They are removed from the accounts according to the First In, First Out (FIFO) method (at the acquisition cost of the first shares repurchased).

• Treasury shares that are purchased under the KBC share buyback programme are valued per set identified at the lower of their acquisition value and market value at balance sheet date. When they are sold, they are valued (just like shares in the investment portfolio) according to the method of individualization. As long as both types of treasury share are recorded as on-balance-sheet assets, a reserve not available for distribution has to be set aside. When the shares are cancelled, the reserve not available for distribution is reversed. If amounts are written down on the type 2 treasury shares, this amount is transferred directly from the reserve not available for distribution to the reserve available for distribution.

5. AMOUNTS RECEIVABLE AT MORE THAN ONE YEAR AND AMOUNTS RECEIVABLE WITHIN ONE YEAR

These are recognised at nominal value. However, amounts receivable represented by fixed-income securities are valued at acquisition cost. The difference between the acquisition costs and the redemption value is reflected as an interest item in the profit and loss account on an accruals basis over the remaining term to maturity of the securities. It is included in the profit and loss account on a discounted basis, based on the internal rate of return at the time of purchase.

The accounting treatment of subordinated loans granted to affiliated companies is similar to fixed income securities as described above. Amounts receivable in foreign currency are recognised at their equivalent euro value using the fixed exchange rate applying at the end of the preceding month. For the purposes of valuation at the end of the financial year, the carrying value is adjusted according to the fixed exchange rate on 31 December.

The positive and negative translation differences are recognised in profit or loss.

If, at the close of the financial year, the realisation value of a receivable is lower than its carrying value, and if this decline in value can be considered real and lasting in nature, an impairment is applied.

Security paid in cash by way of guarantee to public authorities or utilities is recorded in its nominal amount.

6. OTHER ASSETS

6.1. Stocks of warehoused items

Warehoused items comprise requisites for Print and Post-processing assignments.

All items recognised under 'stocks of warehoused items' are valued there for accounting purposes at the moving average price, calculated on the basis of the items' purchase price.

6.2. Orders in progress

Specific software developed by KBC for third parties is recognised under 'orders in progress'. This concerns the marketing of tailor-made software (i.e. software developed on a contractual basis and built entirely to the client's specifications). This software may have been developed from scratch by KBC or using purchased basic software.

The manufacturing price includes all costs that can be allocated directly to the project (e.g., third-party development costs, infrastructure, implementation of software). Maintenance and after-sales service is considered as a period expense.

6.3. Sundry other assets

All other asset items are recorded at nominal value. Amounts receivable in foreign currency are recognised at their equivalent euro value using the fixed exchange rate applying at the end of the preceding month. For the purposes of valuation at the end of the financial year, the carrying value is adjusted according to the fixed exchange rate on 31 December. The positive and negative translation differences are recognised in profit or loss.

6.4. Transitory accounts

These items allow income and expenditure to be allocated to the proper accounting period. The option premiums received with regard to the issued stock option plans are recognised in the profit and loss account as and when, and to the extent that, the stock options expire or are exercised.

The option premiums set aside by the employer are recognised pro rata in the income statement as personnel expenses during the performance period (period between subscription and opportunity to exercise).

If employees who hold options transfer between KBC-group entities, the option premium paid (the part that has not yet been taken to the income statement) is charged to the company the employee is transferring to.

III. LIABILITIES

1. AMOUNTS PAYABLE

1.1. Debts represented by securities

Debts represented by securities are recognised in the balance sheet in the amount made available, plus or minus the difference between this amount and the redemption price for the portion that has already matured, calculated on the basis of the yield to maturity on recognition. Differences between the amount made available and the redemption value of the debt are recorded as interest on an accruals basis in the profit and loss account.

The costs incurred on issue of the debt securities are recognised as paid commission on a straight-line basis over the term of the instrument. The capitalised costs are recorded under 'Accrued charges and deferred income'.

With regard to commercial paper, the difference between the amount made available and the nominal value is entered pro rata temporis in the profit and loss account as an interest charge.

1.2. Subordinated liabilities

Subordinated liabilities are measured in the same way as other liabilities, irrespective of whether they are represented by securities.

1.1. Other liabilitities

These are recognised at nominal value. With regard to commercial paper, the difference between the amount made available and the nominal value is entered pro rata temporis in the income statement as an interest charge.

All amounts payable (i.e. amounts payable in respect of tax, remuneration and social security charges, dividends payable on own shares and invoices payable) of a fixed amount or that can be estimated accurately are required to be recorded at nominal value, even if not yet represented by an instrument.

Amounts payable in foreign currency are recognised at their equivalent euro value using the fixed exchange rate applying at the end of the preceding month. For the purposes of valuation at the end of the financial year, the carrying value is adjusted according to the fixed exchange rate on 31 December.

The positive and negative translation differences are recognised in profit or loss.

2.PROVISIONS

2.1 General

Provisions for liabilities and charges are intended to cover losses or charges whose nature is clearly defined and which, at the balance sheet date, are likely to be incurred and whose amount can be estimated with sufficient certainty. All provisions are IFRS-compliant.

2.2 Provisions for taxes

In anticipation of additional tax charges (not yet assessed) for past financial years, a provision may be set aside for the disputed portion of taxes. The undisputed portion of taxes yet to be assessed is recorded under the estimated tax liabilities on the liabilities side of the balance sheet.

The additional tax charges already assessed for past financial years are recognised in full under the tax liabilities on the liabilities side of the balance sheet. For the disputed portion of taxes that have been assessed, a claim (i.e. income) is recognised if an appeal has been/will be lodged and if it is sufficiently certain that the claim will stand. The claims recorded for disputed taxes are periodically subjected to an impairment test.

Deferred taxes are recognised for all taxable temporary differences between the carrying value of an asset or liability and its tax base, except for deferred tax assets on tax losses or notional interest deductions carried forward, which are not recognised due to the principle of prudence. Deferred taxes to be recognised are measured using the tax rates in effect on realisation of the assets or settlement of the liabilities to which they relate.

DEMATERIALIZATION OF SECURITIES

In compliance with article 11 of the law of 14 December 2005 relating to the abolishment of bearer securities, KBC Group has, in the course of 2015, sold its bearer financial instruments of which the holder has not identified himself and has transferred the proceeds of the sale to the "Deposito- en Consignatiekas".

The auditor has confirmed that KBC Group has complied with the stipulations of that article.