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

365.bank, formerly known as Poštová banka, has been part of J&T since 2013. J&T owns a 98.45% stake in it. Patrik Tkáč, chairman of the board of directors of JTFG, said the bank has become a stable, fully digital and modern retail institution with a significant position on the Slovak market. According to December 2024 data, 365.bank's share of the Slovak market in terms of assets is 3.7%.

KBC plans to merge 365.bank with its existing Slovak subsidiary CSOB, creating a strong banking group with approximately 16% market share in Slovakia. KBC CEO Johan Thijs stressed that the acquisition will strengthen the group's geographic diversification and support its leading position in Central and Eastern Europe. The transaction will have an impact on KBC's capital adequacy ratio, namely a reduction of 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 innovative products and digital solutions along with personalized service to customers in Slovakia.