In 2018 the market conditions remained challenging for KAS BANK with progress on strategic initiatives, but also with constant pressure on our topline. This resulted in an audited net result of EUR 8.1 million in 2018 (2017: EUR 15.1 million). After a review of our business we concluded that the long time value of our business was better served with a strategic partner to support and enhance our strategic transformation. This resulted in an announcement of a conditional offer by CACEIS. In 2019 we hope to complete the transaction with CACEIS and look forward to reaping the benefits of this promising combination.
13 Mar 2019