KBC opposes ‘value destructive’ Irish sale

Belgian bank KBC has cited the fact that it would have to offload its Irish division at a substantial loss as one of the reasons to retain a presence here.

21st November, 2009

Belgian bank KBC has cited the fact that it would have to offload its Irish division at a substantial loss as one of the reasons to retain a presence here.

The bank said last week that its Irish division would not be among the businesses it would sell or exit under the terms of the European Commission’s approval for its state aid and restructuring plan.

‘‘It’s clear that currently it [selling KBC Ireland]...

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