Kamal Hinduja ?

I have done this site especially for Kamal Hinduja
in order to visit thishousewillexist.org

Kamal Hinduja is wife of Prakash Hinduja (Hinduja Group)

Sorry for my poor english translation



KBC sells for EUR 1.3 billion at Hinduja its private banking subsidiary KBL

The Belgian bancassurance group KBC, continuing its "focus" under the supervision of Brussels, was sold to Indian group Hinduja its private banking subsidiary in Luxembourg KBL European Private Bankers for 1.350 billion euros, said Friday the two parties.

"The KBC Group has an agreement with the Hinduja Group on the sale of its private banking subsidiary + + specialized KBL European Private Bankers (KBL) for a total of 1.350 billion euros," they noted in a joint statement.

End 2009, assets under management of KBL amounted to 47 billion euros and assets on deposit at 37 billion euros, he said. KBL will remain based in Luxembourg and the KBL label, his management team and its operations will be fully maintained, the statement added.

The CEO of Hinduja, Srichand Hinduja, described in the release of "excellent" performance of the present management of KBL, while his counterpart at KBC, Jan Vanhevel, expressed "great regret" to let the subsidiary.

But KBC has no choice. To compensate for state aid to which he has used three times during the financial crisis, the European Commission, guardian of competition in Europe, had won the Belgian bancassurance yields by 2013 a quarter of its business, or some 39 billion euros of assets.

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"The transaction represents an important first step in the enforcement of our updated strategy" presented in November 2009 as we strengthen and further the KBC group through a refocusing on its core expertise in bancassurance, "said Mr. Vanhevel.

KBL is one of Europe's largest private account management. Its banks are 55 local affiliated locations in ten European countries (Belgium, France, Germany, Luxembourg, Monaco, Netherlands, Poland, Spain, Switzerland and United Kingdom).

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The transaction, subject to national control authorities and European, should be carried out in the third quarter of 2010. KBC said it will continue to offer services private banking in Belgium and Central and Eastern Europe under its own label.

On 12 May, the Belgian bancassurance, which was hit hard by the financial crisis, confirmed his return to form by announcing a fourth consecutive quarterly net profit. He also assured that his exposure to Greek debt remained "limited to 1.9 billion euros."

The Hinduja group is active on its side in the banking sector through Hinduja Bank Switzerland, based in Geneva, active in Europe, the Middle East and India. It also controls Indusland Bank, founded in 1994 in India where it has a network of 1,225 outlets, with a record of eight billion dollars.

-> Created for Kamal Hinduja