Poland’s KBC TFI, a subsidiary of Belgium’s KBC Asset Management, has tapped into BNP Paribas Bank Polska to add a new distribution channel for its structured funds range.

Previously, all the firm’s structured funds in Poland were sold via Kredyt Bank which initially belonged to KBC Group but was sold to Santander and disappeared from the high street at the beginning of last year when it was integrated with Santander’s subsidiary Bank Zachodni WBK.

Senior product development manager Danny Ketels, who is based at KBC’s headquarter in Brussels, told SRP that the firm’s Polish subsidiary started selling the first products via BNP Paribas Bank last week and that was actively looking for other distributors in the market.

KBC TFI’s head of marketing Agnieszka Chmielewska confirmed that KBC has distribution contracts with a number of banks in Poland. “Group mBank, Bank BGŻ and Bank Ochrony Środowiska are distributing our mutual funds,” she said. “We are in active talks with some other [banks] for [the] distribution of our structured funds.”

With 71 funds distributed in Poland since 2004, Kredyt Bank has PLN4.6bn (€1.1bn) of assets under management. Currently, there are 19 outstanding funds initially sold via former Kredyt Bank.

KBC has just launched a new 1.5 year structure linked to a basket of 30 shares. Global Partners PL KBC Point Capped 4 offers 95% protection on the initial investment and will pay 100% of the rise in the basket, with each share being capped at 25%.

“Investment into foreign funds linked to diversified and fast-growing companies is an opportunity for an attractive return up to 25% within one and half years to our clients,” said retail product development director at BNP Paribas Bank Polska Piotr Dabrowski.

Czech Republic
KBC’s parent firm in the Czech Republic, ČSOB, dominated last year’s top-selling table with five capped call structures offering 95% capital protection which raised €112m.

Top 10 Best Selling Products in the Czech Republic in 2013

ČSOB and KBC were recognised last week with several awards at the SRP Awards Dinner in London for the bank’s service to clients in its domestic market.

Related links:
Merger of Poland’s Kredyt Bank and Bank Zachodni creates third largest domestic provider