It's your Mortgage Day!
“KBC Bank Ireland has delivered a solid performance in H1 2021 and I would like to acknowledge the commitment of our colleagues and their contribution to this performance. We continue to support and serve our customers for our retail banking, investment and insurance products. To ensure that the needs and wants of staff and customers are fully integrated into our decision-making process, we are continuing to engage openly and comprehensively with all of our colleagues and stakeholders as our discussions with Bank of Ireland progress and as we consider options for our NPL portfolio. The Bank will provide an update when there are material developments related to any of the proposed transactions”.
Ales Blazek, Chief Executive, KBC Bank Ireland
Net Profit* of €21million
Impaired loan stock reduced reduced by €89 million (c -6%) to €1,344 million in H1 2021, representing c.12.8% of the portfolio
Capital Position at end of H1 2021 remains strong: CET 1 Capital Ratio 16.1% (fully loaded)
KBC Group ended the first half of 2021 with a net profit of €1,350 million and a CET 1 Capital Ratio of 17.5% (fully loaded)
The Bank remains committed to offering its customers retail banking and insurance services of the highest standard through its digital channels and hubs. Normal day to day banking services remain the same for all customers.
Memorandum of Understanding with Bank of Ireland
Further to the announcement of April 16th, discussions with Bank of Ireland are ongoing in relation to a potential transaction whereby Bank of Ireland would acquire substantially all of KBC Bank Ireland's performing loan assets and liabilities.
KBC Bank Ireland continues to provide its full range of banking, insurance and investment products to customers supported by our customer service and hub teams. In the event of a transaction being agreed and approved, we will put in place all necessary supports for customers to assist them during the transition.
KBC Bank Ireland also continues to examine its options for divesting its portfolio of non-performing mortgage loans.
A key focus throughout these processes is the continued well-being of all colleagues. To ensure that the needs and wants of staff are fully integrated into the decision-making process, KBC Bank Ireland is continuing to engage openly and comprehensively with its employees as discussions with Bank of Ireland progress and as we consider options for our NPL portfolio.
The Bank will provide an update when there are material developments related to any of the proposed transactions.