Bank Of Ireland To Buy Most Of KBC's Performing Loans In €5 Billion Deal.

Friday, 22 October 2021 09:39

KBC is exiting the Irish market.

Bank of Ireland is to buy most of KBC Bank Ireland's loans as part of a 5 billion euro deal.

The companies have entered into a legally-binding agreement that will see BOI acquire around 8 billion euro worth of performing mortgages, along with performing commercial and consumer loans, deposits and some non-performing mortgages.

KBC is due to exit the Irish market and says customers don't have to take any immediate action at this point.

Bank of Ireland says the acquisition is supportive of the group’s financial objectiveshttps://t.co/pAHxJNiOJB
— The Irish Times (@IrishTimes) October 22, 2021

More from National News

Sharp Rise In M9 Collisions With Garda Call-Outs Up Year-On-Year

The figures, provided by An Garda Síochána, show a sharp increase compared to previous years.
Councillor Seeks Clarity On How Often Nightclubs and Late Bars In Naas Are Inspected For Fire Risks

Kildare Fire Service says all venues applying to renew their annual dance licence through the District Court were inspected in advance of the hearings.
New Figures From CSO Reveal How Much International Protection Applicants Earn Compared To Average Worker In Ireland

The data also found that a majority of asylum seekers entered the workforce once permitted to do so
Unpaid Eight-Month Work And Training Placement For Adults With Disabilities Branded "Extremely Unfair"

One Kildare mother told Kfm News that their child had been attending structured placements each weekday, typically from around 9:30am to 3pm, and in some cases carrying out tasks for up to two hours at a time - but are not receiving any form of payment.
Department Of Education Defends Kildare SNA Cuts Amid Claims Of Reduced Need At Some Schools

They said there "are many reasons why the level of need for SNA support in schools may fluctuate including falling enrolments, reduced or increased care needs and changing demographics as children move from primary to post-primary schools".
Naas Nurses Threaten Escalation As Staffing Row Deepens

Nurses spoke to Kfm News this week about issues they are dealing with on a daily basis.
Driving Tests Face Disruption As RSA Testers To Strike Next Week

The driving test centre in Naas is the only driving test centre in Kildare and attracts candidates from Kildare, Dublin, Wicklow and Laois.
Jury Delivers Not Guilty By Reason Of Insanity Verdict In Ballyfin Demesne Strangling Case

31-year-old Henry McGowan, from Brooklyn, New York, was found to be having a psychotic episode when he strangled his father to death at the 5-star hotel.