KBC was not considering pulling out of the Irish market before an approach from Bank of Ireland, the Irish Independent has learned. KBC and Bank of Ireland said in Friday they have entered into a Memorandum of Understanding (MoU), with Bank of Ireland potentially buying KBC’s performing loan assets and liabilities. While these discussions are ongoing, KBC Bank Ireland said remains committed to offering its retail banking and insurance services for its existing and new customers. There is no impact on KBC Bank Ireland customers' products or services and they do not need to take any action as a result of this announcement, the bank said. Speaking on radio this morning, KBC Ireland CEO Peter Roebben confirmed that KBC is seeking to exit the Irish market through the sale of its loanbook to Bank of Ireland and through “divesting our non-performing loanbook”.
Source: Irish Independent April 16, 2021 06:19 UTC