Existing Customer Hub
KBC Business Secured and Unsecured Loans including Loans supported by the Strategic Banking Corporation of Ireland (SBCI).
As you may already know, KBCI has begun a gradual transition to leave the Irish Market and has entered into a binding agreement with Bank of Ireland whereby they would acquire the majority of KBC Bank Ireland’s loan assets and deposits.
On 24 May 2022 this Binding Agreement received approval from the Competition and Consumer Protection Commission. This Agreement is still subject to ministerial approval.
KBC Secured and Unsecured Business Loans will move to Bank of Ireland. This includes all loans supported by the Strategic Banking Corporation of Ireland under the Future Growth Loan Scheme.
You do not need to do anything right now. We will write to you again with more information and next steps.
In the meantime, we’re here to help with any queries about your Business Loan.
If you are an existing customer you will shortly receive a booklet which clearly outlines what is happening to all KBC products in detail.
Should we receive ministerial approval, KBC will send you a letter within the next few weeks with more details about what’s happening to your Business Loan.
In the future, should we receive ministerial approval, Bank of Ireland will write to you as well with important information.
You will keep your Business Loan interest rate margin applicable at the date of the transfer when your loan moves to Bank of Ireland.
Bank of Ireland will be in touch with you regarding your payment methods.
If there is a guarantor on your loan their obligations under the guarantee will also be transferred to Bank of Ireland along with the Business Loan.
Any changes by Bank of Ireland to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.
Loans supported by the Strategic Banking Corporation of Ireland (SBCI) will continue to have the benefit of the Government guarantee.
You should continue to make your Business Loan repayments as normal until your loan transfers to Bank of Ireland.
Make sure your contact details are correct and up to date so we can keep you informed, and Bank of Ireland can contact you directly about the transfer of your Business Loan.
Variable Rate Loan
Fixed rate loan