BOI completes acquisition of KBC portfolios

Bank of Ireland has confirmed that it has completed its acquisition of assets from departing lender, KBC Bank Ireland.

Around 150,000 KBC customers will transfer to Bank of Ireland as part of the €6.4 billion deal, which was first announced two years ago. "I welcome KBC Ireland's circa 150,000 customers to Bank of Ireland," Myles O'Grady, CEO of Bank of Ireland said."This is a very important strategic and commercial acquisition for Bank of Ireland. I'd like to thank colleagues who worked on this deal over the past two years, and acknowledge the professional and constructive approach of KBC throughout the process."

KBC said its intention has been to protect the interests of its customers to the greatest extent possible and staff well-being continues to be a key priority. Its Grand Canal Dublin Hub will remain open until the August 31st and then permanently close from this date.

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