KBC | Business Post

Up to 35,000 Bank of Ireland customers impacted by error on KBC mortgage transfers

The bank sent a letter to the customers, who had transferred mortgages from KBC, admitting it had yet to provide important information to the Central Credit Register (CCR) on their mortgages due to a data entry error by the bank

Commercial Property

KBC appoints QRE to handle sale of its commercial portfolio

KBC Bank Ireland has a large property portfolio across Ireland to dispose of as it exits the market here, including its HQ on Sandwith Street, in Dublin 2

KBC to permanently shut almost all of its Irish branches today

The lender is retreating from the Irish market and has sold most of its assets here

KBC investors to get €1 billion payout after sale of Irish business

The company, which is withdrawing from the Irish market, recently offloaded a large group of loans to Bank of Ireland

Bank of Ireland completes acquisition of €9bn of KBC assets

The lender was given approval for the deal to purchase billions euro of loans and deposits from KBC last May subject to a number of conditions

Revolut delays filing 2021 accounts again after audit risks are highlighted

The company is under growing pressure from British financial regulators to improve its internal controls and compliance functions after criticism of the auditing process at the firm

KBC pays an additional €10m to 60 tracker customers on top of €153m already paid out

The bank was fined more than €18.3 million by the Central Bank in 2020 for its role in the tracker mortgage scandal

CCPC calls for Central Bank competition mandate

Commission tells Department of Finance such a move would represent a significant expansion of the regulator’s remit, which currently includes ensuring the stability of the financial sector and a consumer protection role

BoI purchase of KBC assets 'may spark higher interest rates’

The Competition & Consumer Protection Commission warned that the €6bn deal was ‘likely to further reduce competition’ in an already highly concentrated market

Company Watch: McDonagh strikes a defiant note as she departs the stage

Bank of Ireland’s outgoing chief executive was last week keen to stress the independence of the bank’s decision-making in the current turbulent climate, but it is trailing rival AIB when it comes to acquiring accounts of migrating customers

Majority of Ulster Bank and KBC customers yet to switch accounts

Consumer watchdog warned of negative consequences to delayed current account switching, such as loan repayment arrears, security risks and a negative personal credit rating

Labour’s Nash calls for grace on missed payments during bank switchovers

The Labour Party’s finance spokesman says anomalies should not be reported to CCR for ‘three or four months’, to give leeway for errors and delays

Donohoe asked to consider subsidies to keep bank branches open

The Minister for Finance last month chaired a discussion in Tullamore, Co Offaly on the future of retail banking in Ireland, at which the suggestion was made by participants

Yippays put on hold: Revolut’s Irish rival will not arrive until 2023 at earliest

Synch, the shared payments system devised by Irish banks, has received competition clearance but there is no timeline yet for launch of its app, which is to be known as Yippay

Makhlouf: Banks’ exit could signal ‘rightsizing’ of retail banking market

The Central Bank governor awaits review of sector but sees no signs the market is too small following departure of KBC and Ulster Bank

An Post eyeing up ‘great opportunity’ as Ulster Bank and KBC exit Irish market

State body will tell politicians it is seeing strong growth in current accounts but that problems remain across the network

Missed payments from bank switches should not affect customers’ credit histories, says Kissane

The financial adviser insists customer payments missed as a result of the exit of Ulster Bank or KBC must not be recorded on credit register

The big switch: As hundreds of thousands move their bank accounts, just what could go wrong?

With KBC and Ulster Bank leaving the Irish market, their customers are in the process of switching accounts to other banks which are advertising for their business. But plenty of pitfalls lie in wait for the unwary

Financial Services Union calls on regulator to extend timeline of KBC/Ulster Bank withdrawal

Concerns voiced for welfare of staff due to workload caused by account switches

Bank of Ireland gets green light to buy KBC assets

The Competition and Consumer Protection Commission attached a number of conditions following fears that competition would be lessened as a result of the sale