KBC says tracker mortgage scandal ‘hugely regrettable’

Bank apologises to TDs and senators for role in tracker episode and says it plans ‘orderly’ exit from Irish market

KBC has agreed the sale of billions in loans over recent months as part of its exit from the Irish market. Picture: PA

The tracker mortgage scandal was a “hugely regrettable” episode in KBC’s history, TDs and senators heard today.

The bank apologised this afternoon for its actions in the scandal, which were labelled “unconscionable” by the Central Bank and resulted in an €18.3 million fine for the lender.

Representatives from KBC, which agreed the sale of billions in loans over recent months as part of its exit from the Irish market, appeared in front of the Oireachtas ...