KBC has posted a net result of €697m for the third quarter of 2020, an increase of 14% from the prior year quarter, and up 232% from 2Q 2020.

Sales of life insurance products in 3Q 2020, at €420m, increased by four percent year-on-year. The rise was driven entirely by higher sales of unit-linked products (which include structured products) in Belgium, due to a shift from mutual funds to unit-linked products by private banking clients. However, quarter-on-quarter, sales of life products were 25% lower, mainly due to a drop in sales of both unit-linked products and guaranteed interest products in Belgium. Sales of unit-linked pro

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