Carve-upAll three banks have lined up to participate in the carve-up of the combined €30bn in mortgage and corporate loans that Ulster Bank and KBC plan to shed. Bank of Ireland has struck an agreement with the Belgian-owned KBC to take most of the performing mortgage loan book of around €9bn in Ireland. Bank of Ireland has put on €3bn over the same period and smaller rival Permanent TSB has gained around €220m. Ulster offers tough competition for AIB, Bank of Ireland, and Permanent TSB by selling some of the most competitive fixed-rate mortgages in the market. With around a share of 12% of the mortgage market, KBC is an important player because it competed directly against AIB, Bank of Ireland, and Permanent TSB.

Source: Irish Examiner June 02, 2021 14:29 UTC