Johan Thijs

KBC's distinctive model integrates banking and insurance under one roof — selling insurance products through bank branches and digital channels — which generates higher revenue per customer and deeper relationships than standalone banks or insurers. The group operates in Belgium, Czech Republic, Slovakia, Hungary, and Bulgaria, serving over 12 million customers. Under Thijs, KBC has invested heavily in digital capabilities, launching Kate, an AI-powered digital assistant that handles a growing portion of customer interactions. The group's Central European operations have been particularly strong performers, benefiting from rising incomes, increasing financial penetration, and favorable interest rate environments. Thijs has maintained one of the tightest cost-to-income ratios in European banking while consistently delivering returns on equity above 15%. Thijs's management of the interest rate environment across multiple currencies, execution on digital transformation, and the group's generous capital return policy (KBC typically distributes most of its profits as dividends and buybacks) are the primary drivers of the stock.