[Reuters] KBC says meets new 9 pct core Tier 1 capital target
[KBC.BR] BRUSSELS, Oct 27 (Reuters) - Belgium's KBC <KBC.BR> said on Thursday that its banking business KBC Bank met the new 9 percent core Tier-1 capital ratio target of the European Banking Authority. "Should these stress tests also have been applied to KBC Group as a whole, also KBC Group would meet the 9 percent core Tier-1 threshold," KBC said in a statement. KBC, which received 7 billion euros in state aid to help it through the 2008/2009 global financial crisis, said it had cut its exposure to euro zone periphery countries to 6.7 billion euros ($9.26 billion) at the end of September from 9.6 billion euros at the end of June. It had reduced this exposure by a further 1.6 billion euros since September.