Updated / Tuesday, 11 May 2021
07:27
KBC Bank Ireland added 9,600 new current accounts in the first three months of 2021
KBC Bank Ireland has reported a net profit of €8m after tax and impairments for the first quarter of 2021.
The bank announced last month that it was in discussions about the possible sale of its performing loan assets and liabilities to Bank of Ireland.
In a trading statement today, the bank said that while the talks with Bank of Ireland are ongoing, it remains fully committed to offering quality retail banking, investment and insurance services.
There is no immediate impact for customers, it added.
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Updated / Friday, 16 Apr 2021
09:32
KBC Bank Ireland said it has entered into a Memorandum of Understanding with Bank of Ireland for most of its loans
KBC Bank Ireland has announced that it is in discussions about the possible sale of its performing loan assets and liabilities to Bank of Ireland.
KBC said the deal, if coupled with a separate sale of its non-performing mortgage loan portfolio, would ultimately result in the bank s withdrawal from the Irish market.
It said it has entered into a Memorandum of Understanding with Bank of Ireland, which could see Bank of Ireland committing to buying substantially all of KBC Bank Ireland s performing loan assets and liabilities.
KBC Bank could leave Irish market as talks with BOI begin
Michelle Devane, PA
16 April 2021, 8:00 am
KBC Bank Ireland looks set to leave the Irish market after announcing the potential sale of its performing loan book to Bank of Ireland.
Discussions are at an early stage but if the sale goes ahead it would “ultimately” lead to KBC Bank Ireland exiting the market, its chief executive said.
However, Peter Roebben said that, “for the time being”, nothing will change for its customers or staff.
KBC has entered into a Memorandum of Understanding (MoU) with Bank of Ireland, which could lead to “a transaction whereby Bank of Ireland commits to acquire substantially all of KBC Bank Ireland’s performing loan assets and liabilities”.
Minister Donohoe responds to announcement by KBC and Bank of Ireland
The Minister for Finance, Paschal Donohoe TD, has said, in reaction to the KBC Ireland’s announcement this morning (Friday), that the decision taken by the bank to leave the Irish market is regrettable, particularly as it comes so soon after NatWest’s decision to withdraw Ulster Bank Ireland DAC from the Irish banking sector.
KBC first entered the Irish market in 1978 through the majority acquisition of Irish Intercontinental Bank.
The Minister noted the announcement states that a Memorandum of Understanding has been agreed between KBC and Bank of Ireland, which covers substantially all of KBC’s performing loan assets and liabilities and that KBC is reviewing its options to divest its remaining non-performing mortgage loan book.
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