KBC To Sell ABS Lending Unit to PNC

27 Sep 2010

Belgium’s KBC Group is selling KBC Business Capital, its asset-backed lending unit in the U.K., to PNC Financial Services Group.

Belgium’s KBC Group is selling KBC Business Capital, its asset-backed lending unit in the U.K., to PNC Financial Services Group. KBC, which says the deal will have no impact on its Tier 1 capital ratio, expects to close the transaction in the fourth quarter.

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