KBC Reports Wider-Than-Expected Q3 Net Loss

KBC Group NV KBCSY reported a wider- than-expected Q3 net loss. KBC posted a quarterly net loss of EUR1.6 billion. However, analysts were expecting a net loss of EUR1.0 billion. KBC's net profit in the previous quarter came in at EUR333 million and EUR545 million in the year-ago quarter. KBC's quarterly underlying loss came in at EUR248 million, versus a profit of EUR528 million in second-quarter and a profit of EUR445 million in the year-ago quarter. KBC projects full-year underlying net profit of EUR1.2 billion to EUR1.4 billion.