More Trouble for Belgium's KBC Bank

February 2, 2009

Shares for troubled Belgian bank KBC suffered heavy losses this month amid concerns about the bank's exposure to fragile emerging markets as well as its need to raise fresh capital. At the beginning of this year, the bank said in a press release that it expected its full-year net earning to fall by E900 million ($1.2 billion). This is a result of further downgrades that Moody's Investors Service made on a range of CDOs held by the group.

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