We need your help now
Support from readers like you keeps The Journal open.
You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.
If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.
Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
By continuing, you are indicating that you accept our Terms of Service and Privacy Policy.
KBC BANK IRELAND has reduced the scale of its impaired loans by half for the first quarter of the year.
The level of provision for bad debt has dropped from €99 million during the first quarter of 2013 to €47.9 million for the same period this year.
Losses after tax and impairment charges came down to €17.1 million, compared to a loss of €46.4 million last year.
The bank is pressing on with new customer acquisition, adding over 9,000 customer accounts and €0.2 billion in retail deposits during Q1.
Another five branches are planned for Dublin, and it said that it will continue aggressively pursuing new customers. KBC ran a ‘change your bank day’ earlier this year, and launched new a new credit card and various personal banking services.
The bank employs over 800 people in Ireland with banking hubs in Dublin, Cork, Limerick and Galway.
Chief executive Wm Verbraeken said that the losses and impairments were “in line with our expectations” and that the bank expects to return to profitability in 2016.
To embed this post, copy the code below on your site
It’s time to give these big banks the heave ho. Credit Unions operating cash cards from next year will allow me to move my accounts to them – never liked the thought of having to actually go into the premises.
I strongly urge noone to.go.with kbc. Our morgage interest rate has increased approx 6 times in 5 yrs, never decreased. Our apr us now nearly 5%. Mortgage repayments have doubled.
Triona your wrong there. KBC have lowered interest rates 5 times at least. If they have made a mistake with you take it up with them.
Maybe lowered interest rates for first time buyers, but my loan was with iib bank. Kbc took over our loan approx 8 rs ago. For the last 5 yrs our loan has never decreased and the apr has.gone from 3.5 % to 4.95% .. never decreased.
I took this up with them and they won’t alter the rate .. variable not tracker ..
Unfortunately I wish I was wrong.its a variable not a.tracker.
Not first time buyer
And I did take it up with them. I was on arrears , on interest only for a.while and the apr still went up twice that year.. never down in 5 yrs.
It was 3.5% iniatally now 4.9%
Eh why the thumbs down. I’m just stating facts.
Triona there is something wrong there. My loan with them is also variable and was taken out with IIB. My interest rate has dropped a number of times over last five years.
Hi, what apr u on now so I can go back to.them and try get same ?
Well said Triona.
I have personally found them the most dodgy, incompetent, disingenuous, opaque shower of inept wasters in the country.
No matter how slick and ‘nice’ their advertising campaign is remember KBC is the bank that hounded the poor residents of Priory Hall.
The bank only reconsidered when public opinion went against them.
Money and only money is what they care about no matter what their tv adverts say.
I think you might find that this was just one account – residents had mortgages with many different lenders, not just KBC. Not excusing what happened but it is fully inaccurate to say that KBC hounded the residents of priory Hall.
Hear Hear fm
KBC is also one of our famous Anglo Bondholders
http://www.politics.ie/forum/economy/140523-anglo-irish-bank-bondholders-revealed.html
No wonder they are still hanging around.
Farcical zombie bank.
Good to hear that, another load off my mind.
Do they mean ‘they’ have reduced their impairments or ‘we’ and the one in eight children that are living in poverty did it for them? Change the headline maybe!
Wouldn’t sign with them in a million years..
have your say