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

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