KBC Financial Holding Inc history

Belgium's Boerenbond (Farmer's Union) began offering fire insurance to its members in 1892, through England's Norwich Union.

In 1898, the Boerenbond added accident insurance as well, now through La Belgique Industrielle.

At the turn of the century, however, the Boerenbond itself entered the insurance business, setting up its own cooperative policies, Ondelinge Belgische Boerenverzekering, which covered work-related accident insurance, and Landbouwverzekering for other accident insurance coverage, in 1905.

The Boerenbond extended its insurance operations in 1917 with the creation of its own fire insurance group.

In 1922, the union's various insurance operations were combined into a single limited liability company, Belgische Onderlinge Verzekeringsmaatschappij NV, which was subsequently renamed Verzekeringsmaatschappij van de Belgische Boerenbond to emphasize that the company was part of the farmer's union.

The new company was incorporated in 1931.

The company was founded on February 9, 1935 and is headquartered in Brussels, Belgium.“

Fernand Collin, who became president in 1938, conceived thebusiness strategy which would lead to the growth of the bank.

1949: Almanij forms Kredietbank luembourg (KBL).

Then in 1954 it acquired Banque Congolaise pour l’Industrie, le Commerce, et l’Agriculture and renamed it Kredietbank-Congo, Ultimately it had four branches, one each in Léopoldville, Bukavu, Elizabethville and Stanleyville. It established a branch in Léopoldville in 1952.

Then in 1954 it acquired Banque Congolaise pour l’Industrie, le Commerce, et l’Agriculture and renamed it Kredietbank-Congo, Ultimately it had four branches, one each in Léopoldville, Bukavu, Elizabethville and Stanleyville.

Under the motto "an independent bank for an independent clientele," The Almanij-Kredietbank consortium moved beyond its Flanders home base beginning in 1958 to build up a strong share of French-speaking Belgium as well to capture the number three position in the country's banking industry.

1978: Almanij spins off KBL as independent company.

When Bayer acquired the imaging unit of Agfa-Gavaert in 1981, Gavaert was spun off as a separate company, with, Almanij acquiring a strong shareholder position.

The Kredietbank N.V. Bruxelles acquired the main part of the shares from the Bankverein Bremen AG since 1982.

The branch in Bremen was renamed to Kredietbank-Bankverein AG in 1990.

1998: Almanij, CERA, and ABB Verzekeringen merge to form KBC with Almanij as major shareholder.

In 1999, these subsidiaries were grouped under a single entity, called Almafin, which remained 100 percent controlled by Almanij.

Over the past decade, KBC has built up a strong presence in many of the countries that joined the EU on 1 May 2004 (Poland, Hungary, the Czech and Slovak Republics) by investing some 7.4 billion euros in acquisitions.