KBC Group to Buy Czech, Slovak Divisions of Leasing Company for $84 Million
By Elena Vardon
KBC Group agreed to buy the Czech and Slovak divisions of mobility firm Business Lease for 72 million euros ($83.6 million) as it expands its vehicle-leasing activities in Central Europe.
The Belgian bank on Thursday said it signed a binding agreement with Business Lease owner AutoBinck Group to acquire both subsidiaries. KBC will then integrate the units with its existing leasing business in both countries.
The deal, which is subject to regulatory approval, is expected to close in the first quarter of 2026.
"By integrating Business Lease with CSOB Leasing, we are creating a powerful fleet in both markets: around 15,000 operating leasing vehicles in Czech Republic becoming a top 5 player and around 10,000 operating leasing vehicles in Slovakia becoming a top 3 reference player," KBC Chief Executive Johan Thijs said.
The lender has been strengthening its presence and market share in the region and earlier this year announced the acquisition of Slovakia's 365.bank.
KBC said the Business Lease transaction will result in a 4 basis point hit to its common equity tier 1 ratio, a measure of capital strength.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
October 23, 2025 03:30 ET (07:30 GMT)
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