KBC Group

KBC Bank Ireland enters into a Memorandum of Understanding with Bank of Ireland Group - Seite 2

 

Further announcements will be made in due course.

             

Announcing the MoU, KBC Group CEO, Johan Thijs, said : “Over the last decade, KBC Bank Ireland has managed to build a digital first retail bank and launched recently a digital pension insurance business for the Irish market. Given the challenging operational context for European banks and after careful consideration, we have reached an agreement with Bank of Ireland Group regarding the potential sale to Bank of Ireland Group of substantially all of the performing loan assets and liabilities of KBC Bank Ireland. Next to this MOU, KBC Bank Ireland’s remaining non-performing mortgage loan portfolio is currently being reviewed for potential divestment.”

Francesca McDonagh, Group CEO of Bank of Ireland continued : “When we look at opportunities we consider if they are a good fit for the customers involved and for the bank. This MOU complements our strategy to grow our business in Ireland, and supports the investments we are making in the transformation of our systems and digital banking services. We would be very pleased to provide KBC Ireland customers with a good home, and look forward to progressing our discussions with KBC over the coming period.”

KBC Bank Ireland CEO, Peter Roebben added : “KBC Bank Ireland remains committed to offering its quality retail banking and insurance services. For the time being nothing changes, neither for existing nor for new customers. Our customers do not need to take any action as a result of today’s announcement. KBC Bank Ireland continues to benefit from a strong liquidity and capital position. The Board and the Executive Committee of KBC Bank Ireland are fully conscious of our responsibilities to our customers and colleagues, and the role of KBC as part of the Irish banking system, and we are fully committed to assuming those responsibilities while the talks with Bank of Ireland are ongoing”.

For more information, please contact:

KBC Group :
Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC Group
Tel [phone] - E-mail: [e-mail],  [e-mail]
Website : www.kbc.com

Kurt De Baenst, General Manager, Investor Relations, KBC Group
Tel [phone] - E-mail: [e-mail]

Bank of Ireland :

Damien Garvey, Head of Group External Communications and Public Affairs, Group Corporate Affairs, Bank of Ireland
Tel + 353 (0) 86 8314435 – E-mail: [e-mail]

    Darach O’Leary, Head of Group Investor Relations, Bank of Ireland
Tel [phone] – E-mail [e-mail]

KBC Bank Ireland
Edelman - Joe Carmody, CEO – Tel + 353 86 805 87 64  [e-mail]

* This news item contains information that is subject to the transparency regulations for listed companies.
* This announcement contains inside information.

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