Important Customer Notice - Investments

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

New Customers:
Before you take out an investment, we would like to draw your attention to what this might mean.

Ideally when opening an investment account or placing an investment you would aim to keep your money invested for a minimum of 3 to 5 years or longer. While there is no immediate impact of the announcement to your investment today, you should be aware that, should this change, you may be required to redeem at a given day in the future. Based on the performance of the fund, this could be more* or less than the amount you initially invested.    You will receive the full value of the fund as of that date with no penalties or charges applied.  Should you choose to open your investment account you will at all times continue to be afforded all the relevant regulatory protections. We are committed to keeping you updated and will keep you informed of the impacts (if any) on you and your investment.  

KBC Bank Ireland plc is a distributor of funds managed by KBC Fund Management Ltd and KBC Asset Management NV.

Existing Customers:
It is not possible to be definitive at this time as to the possible impact of this announcement on your account.

KBC Group and 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.

You do not need to take any action. There is no immediate impact on your investment account as a result of the announcement. Customers will at all times continue to be afforded all the relevant regulatory protections.

We are committed to keeping you updated; if circumstances change during the coming months we will keep you informed and outline the impacts (if any) for you.
If you have any specific queries regarding your investment you can contact your investment advisor in your local hub or call 1800 93 92 44.


*Please note that gains in your fund will be subject to the normal deduction of exit tax at the prevailing rate

*Exit tax is deducted at source only for our Irish based SIVEK Medium/Expertase Funds. 

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.

Warning: These funds may be affected by changes in currency rates.
Warning: The value of your investments may go down as well as up.
Warning: Past Performance is not a reliable guide to future performance.
Warning: If you invest in this product you may lose some or all of the money you invest.