reported a net loss of €298 million last year, as it booked a raft of costs tied to its planned exit from the Republic, according to accounts published on Thursday by its Belgian parent.
KBC Bank Ireland’s operating expenses rose by €85 million to €313 million, understood to mainly comprise staff restructuring costs. The company had already said in November that it had taken €81 million of such costs. Still, the group has said it will able to record a €200 million gain on the completion of the loan book sales, which would largely offset the charges taken in last year.
It is expected that the outcome of that assessment will be known by late March or early April. KBC expects the deal to go through in the second half of this year.
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