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
The Competition and Consumer Protection Commission (CCPC) has cleared the way for the proposed acquisition by Bank of Ireland of certain assets and liabilities of KBC Bank ahead of the Belgian lender’s withdrawal from the Irish market.
Bank of Ireland agreed a deal in October last year to acquire billions euro of loans and deposits from KBC Bank Ireland. Under the terms of the deal, Bank of Ireland will acquire €8.8 billion of performing mortgages ...