KBC Bank Ireland has “no plans” to sell further soured debt, after the group agreed in August to dispose of €1.9 billion non-performing loans (NPLs) to Goldman Sachs, according to its chief executive, Wim Verbraeken. KBC Bank Ireland saw its third-quarter earnings boosted by the release of €15 million of provisions previously set aside for bad debt, as the economy and house prices improved. Corporate loansFor the year as a whole, KBC still sees the Irish unit writing back between €100 million and €150 million of loan-loss provisions. “Recent indicators suggest positive momentum in the Irish economy remains strong,” KBC Group said, adding that it expects the State’s gross domestic product (GDP) to expand by about 7 per cent his year. KBC Bank Ireland’s number of customers rose by almost 20,000 in the third quarter, bringing its total to 278,000.

Source: The Irish Times November 15, 2018 18:22 UTC