J&T Finance Group to sell its majority stake in Slovakia's 365.bank

J&T Finance Group (JTFG) has announced the sale of its majority stake in the Slovak 365.bank to the Belgian banking and insurance group KBC, the parent company of Československá obchodní banka (ČSOB). The purchase price is approximately EUR 761 million, which corresponds to almost CZK 19 billion. The transaction is expected to be completed by the end of this year, with a strategic acquisition agreement already in place.

365.bank, formerly known as Poštová banka, has been part of J&T since 2013. J&T owns a 98.45% stake in the company. Patrik Tkáč, Chairman of the Board of Directors of JTFG, said that the bank has become a stable, fully digital and modern retail institution with a significant position on the Slovak market. According to data from December 2024, the share of 365.bank in the Slovak market in terms of assets is 3.7%.

KBC plans to merge 365.bank with its existing Slovak subsidiary ČSOB, creating a strong banking group with approximately 16% market share. KBC CEO Johan Thijs emphasized that the acquisition will strengthen the group's geographic diversification and support its leadership position in Central and Eastern Europe. The transaction will have an impact on KBC's capital adequacy ratio, namely a reduction in the common equity tier-1 ratio by approximately 50 basis points, while the bank will maintain its strong capital position.

Completion of the transaction is subject to regulatory and antitrust approvals. Upon completion, the merger of ČSOB and 365.bank is expected to offer customers in Slovakia innovative products and digital solutions along with individual service.