Belgium's KBC reports Q1 net profit above forecasts

May 12, 2015 5:28 AM

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BRUSSELS May 12 Belgian financial group KBC on Tuesday reported better-than-expected net profit in the first quarter, caused by a strong improvement in the company's insurance business and its international markets unit swinging to a profit.

Net profit, adjusted for one-off items, rose by 51 percent in the first quarter from the same period last year to 510 million euros ($570.49 million), well above the 384 million euros expected in a Reuters poll of six analysts.

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