KBC Bank Ireland told its 1,300 staff on Tuesday that they will remain secure in their jobs until at least the end of October, though it did not give any indication on whether roles will transfer with the planned disposal of its €10.4 billion loan book. “The board of directors of KBC Group and the board of directors of KBC Bank Ireland therefore agreed to make a public and formal commitment of job security until at least until October 31st, 2021. Elsewhere, KBC Group executives told analysts on a call that they did not expect either deal to close until next year. KBC Bank Ireland reduced its impaired loan stock by 3 per cent to €1.39 billion, or some 13 per cent of its portfolio. Ulster Bank chief executive Jane Howard has said that job transfers “will be core to any negotiations” on loan sales.

Source: The Irish Times May 11, 2021 16:41 UTC