Important Customer Notice - Consumer Finance

KBC Bank Ireland would like to draw your attention to some important information

You may have seen the news about a recent announcement by KBC Bank Ireland in the media – click here for the announcement.

Personal Loans
While no immediate impact is foreseen for your Personal Loan there is a possibility that you may be required to transfer your loan to another provider.  If this happens you will continue to be afforded all relevant regulatory protection.

Credit Card
While no immediate impact is foreseen for your Credit Card, there is a possibility that your credit card may be cancelled or transferred to another provider.  If this happens you will continue to be afforded all relevant regulatory protection.

Overdraft
While no immediate impact is foreseen for your Overdraft there is a possibility that it may be cancelled or transferred to another provider.  If this happens you will continue to be afforded all relevant regulatory protection.

What was announced?

KBC Bank Ireland has entered into a Memorandum of Understanding (MoU) with Bank of Ireland, 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 performing loan assets and liabilities. The transaction remains subject to customary due diligence, further negotiation and agreement of final terms and binding documentation, as well as obtaining all appropriate internal and external regulatory approvals.

KBC Bank Ireland’s remaining non-performing mortgage loan portfolio (NPL), which is not part of the MoU, is currently being analysed whereby KBC Group is reviewing its options to divest this NPL portfolio.

Execution of these two transactions would ultimately result in KBC Group’s withdrawal from the Irish market. Further announcements will be made in due course.

To read full customer notice and FAQs click here.