KBC to exit Irish market

KBC to follow Ulster Bank as latest lender to leave Ireland as it enters talks with Bank of Ireland about the acquisition of its business

16th April, 2021
KBC to exit Irish market
KBC’s exit from the market would leave just Permanent TSB, which is interested in acquiring a significant portion of Ulster Bank’s business, alongside Bank of Ireland and AIB as major retail banks operating here. Picture: Rollingnews.ie

KBC Bank Ireland is set to become the latest lender to exit the Irish market after entering talks with Bank of Ireland about the acquisition of its business.

In a joint statement issued this morning, the two lenders said they had entered into a memorandum of understanding “expressing the parties’ intention to explore a route that could potentially lead to a transaction whereby Bank of Ireland commits to acquire substantially all of KBC Bank Ireland’s...

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