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Bank Of Ireland In KBC Take-Over Talks
Bank of Ireland is in talks to take over KBC Ireland.
It comes just weeks after Ulster Bank, the third biggest bank in the country, announced its plans to exit the Irish market. The loss of KBC will mean just three banks are left in a potentially devastating blow to competition. The two lenders have entered into a Memorandum of Understanding with Bank of Ireland potentially buying KBC’s performing loan assets and liabilities. KBC Bank Ireland’s remaining non-performing mortgage loan portfolio, which is not part of the MoU, is currently being analysed with KBC Group reviewing its options to dispose of this non-performing loan portfolio.