Bank of Ireland buys most of KBC Bank Ireland’s performing loans and liabilities

BOI will acquire €8.8 billion of performing mortgages, €0.3 billion worth of non-performing home loans and €4.4 billion of deposits

22nd October, 2021
Bank of Ireland buys most of KBC Bank Ireland’s performing loans and liabilities
KBC first flagged its intention to leave the Irish market in April. Picture: Naoise Culhane

Bank of Ireland has agreed a deal to acquire billions euro of loans and deposits from KBC Bank Ireland ahead of the Belgian lender’s withdrawal from the Irish market.

Under the terms of the deal, Bank of Ireland will acquire €8.8 billion of performing mortgages as well as a small number of non-performing home loans worth a combined €0.3 billion.

The lender will also acquire €4.4 billion of deposits meaning the transaction, which...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Bank of Ireland’s €24.5m fine lays down a marker to all lenders

Data centre power problem caused IT outage at Central Bank

Bank of Ireland fined €24.5m

KBC says tracker mortgage scandal ‘hugely regrettable’