Belgium’s KBC Is Said to Study Potential Deal for ABN Amro (1)

Belgian lender KBC Group NV is evaluating a potential acquisition of state-backed Dutch rival ABN Amro Bank NV as it looks at ways to bolster its European footprint, people with knowledge of the matter said.

Brussels-based KBC is in the early stages of studying the feasibility of a deal, the people said, asking not to be identified because the information is private. Shares of ABN Amro have gained more than 75% in Amsterdam trading this year.

ABN Amro’s shares surged as much as 9.6% on the news and ultimately closed 3.3% higher, giving it a market value of €22.2 billion ...