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BELGIAN BANK KBC is considering all options for its Irish operation, including a sale, a strategy update from the bank has outlined.
The document, which was issued this morning, said that the bank will focus on returning to profitability in its Irish outfit before deciding what to do next.
It states:
As of then, all available options will be considered (i.e. whether to organically grow a profitable bank, build a captive bank-insurance group or sell a profitable bank).
As previously outlined, KBC’s current strategy will see it expand its current branch network as it attempts to transition from being a mostly online-focused bank to a full retail option with a significant bricks and mortar presence.
The bank is planning to “grow strongly” in retail mortgages in Ireland, but will reduce its existing corporate and SME loan portfolio.
Earlier this year, the bank said that it had more than halved its provisions for loan impairments to €48 million.
A spokesperson for KBC Bank Ireland said: “The future of KBC Bank in Ireland is to grow into a strong retail player offering compelling value to customers.”
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I have a mortgage with KBC and never have any problems with them. They take the payment every month.
RIP Fiachra Daly.
You might still be with us today if it were not for the bullyboy tactics of this reckless ignorant so called bank.
How KBC have the nerve to continue in this country after the way they treated that couple from Priory Hall.
Very true. They sent a letter looking for the arrears after they were paid in full by the life policy. KBC the bank of screw you.
I find them very fair tbh, they parked 50% of my loan and wrote off my arrears, now I can afford to live in my house, my sister however is with bank of Ireland and they have hounded her to pay every cent .
With interest rates as low as they are, how can they make money?
Have you ever heard of a bank that done anything for nothing?
No matter how low the interest rates are, they’ll always have their fat margins.
I had a KBC mortgage and was glad to get them off my back when I finally sold my house…..never again!
Amen.
A bottom-dweller of the bubble who only sold their mortgages through half ar$ed brokers.
and an Anglo Irish Bank bondholder I might ad.
http://www.irishcentral.com/news/list-of-bondholders-in-anglo-irish-bank-leaked-110903209-237728261.html
Another interest rate hike on the way in the other banks then!
have your say