Belgian bank and insurer KBC Groep NV sought to reassure investors Friday after market rumors that it was to seek government help led to its share price plunging.
The lender said that its capital and deposit base is "very solid" despite the credit crisis. It issued a statement after its share value dropped to euro20.60 (US$26.39) in morning trading on the Euronext exchange in Brussels from its opening of euro28 (US$35.87).
KBC is the only one of Belgium's big four banks _ which include Fortis NV, Dexia SA and ING Groep NV _ that has not sought government guarantees in recent weeks. Together the four banks control some 80 …
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