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  • Mardi 18/4/2023
    Van Rijsseghem

    The risks a financial institution is facing, are highly dependent on its business model and strategy. Risk management is closely linked with this business model and strategy.

    KBC has a clear strategy to be able to adapt to an ever-changing environment. For example, customer behavior is changing more rapidly than ever, with technological advances and digitalization as catalysts. Furthermore, not only the competition but also the pressure from regulators is increasing. The macroeconomic environment also remains particularly challenging, with two human tragedies occurring in quick succession: first Covid-19, then the war in Ukraine.

    These structural changes also have an impact on the risk function, which must adapt to remain relevant in this changing environment. We see more and more a shift from traditional financial risks towards non-financial risks (e.g., IT and cyber risks, 3rdparty risks, model risks, anti-money laundering). These risks are not new but have become increasingly important in recent years. In addition, new risks like ESG-risk have emerged, especially in relation to climate change.

    Therefore, it is important that risk managers understand the business activities to proactively identify and mitigate risks, whilst being agile to act quickly in case of new challenges.

  • Mercredi 22/3/2023

    The Belgian housing market continued to perform well in recent years despite successive crises. Nevertheless, a weakening of buying and construction activity has been noticeable in recent quarters. This takes place against the backdrop of rising interest rates and is accompanied by lower annual house price growth dynamics. Together with strong nominal income growth among households (a consequence of high inflation, automatic indexation, and robust job creation), the less exuberant house price dynamics put downward pressure on the overvaluation of the Belgian housing market. This was offset by upward pressure due to the rise in interest rates. On balance, the overvaluation, approached from an econometric model, remained between roughly 10-15%. The household debt ratio continued to rise in recent years, although that trend seems to have reversed recently. The headwinds in the housing market will likely result in a further deceleration in the nominal price growth rate in 2023-2024. Given still relatively high general inflation, that implies a house price decline in real terms.

  • Mardi 1/12/2020
    Frank Maet

    Construction and real estate activity recovered after the first COVID-19 wave starting in the summer, but the tightening of security measures may again temporarily weigh on activity in Q4. We take into account a fall in house prices in 2020 and 2021 due to the recession weighing on household income. However, the fall in prices remains limited by low interest rates, investor demand and government measures to mitigate the damage to income.


  • Mardi 2/6/2020
    Steven Trypsteen

    The crisis has a large impact on income growth and this will lead to downward pressure on house prices. But there are also factors that support the housing market. We expect that the mortgage interest rate will remain low, that the relative yield on real estate will remain attractive and that the belief of Belgians in real estate will not be damaged. All in all, we currently think that house prices will drop by about 2% in 2020 and remain constant in 2021.