KBC closes major deal with Bank of Ireland ahead of Irish market exit

BANK OF IRELAND and KBC have completed a major transfer of assets as the latter bank prepares to pull out of Ireland.

The acquisition involves €7.6 billion of performing mortgages, €0.1 billion of mainly-performing commercial and consumer loans, €0.2 billion of non-performing mortgages, and €1.8 billion of deposits. “While the transfer of products will take place over the coming weeks, our relationship with you [KBC] begins today,” O’Grady said.

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The Irish Times Business Awards in association with Bank of Ireland - The Irish TimesNow in its fifth year, the Business Awards acknowledge excellence and outstanding achievement among Irish business leaders, both at home and abroad, and executives leading major multinational companies in Ireland. Each month, a winner is selected by The Irish Times business team, led by Business Editor Ciarán Hancock. Bank of Ireland partners with The Irish Times to support the awards which celebrate the expertise, talent, and commitment of those who lead businesses in Ireland.
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BOI completes acquisition of KBC portfoliosBank of Ireland has confirmed that its acquisition of a number of portfolios from departing lender, KBC Bank Ireland, has been completed.
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