Bank of Ireland Group plc – Acquisition of Performing Commercial Loan Portfolio from KBC Bank Ireland

Bank of Ireland has completed the acquisition of a portfolio of c.€260m performing commercial loans from KBC Bank Ireland.

Bank of Ireland is writing to the customers to inform them of the completion of the transfer and providing them with information in relation to the servicing of the loan. Bank of Ireland will service the accounts directly and the contractual terms and conditions remain the same.

Michael Lauhoff, Director of Business Banking, Bank of Ireland commented: “We are pleased to announce the completion of this important transaction which is a positive development for our business, consistent with our strategy of growing lending volumes. This is a strong portfolio of performing commercial loans and it further strengthens our business banking portfolio. We are writing to customers to officially welcome them to Bank of Ireland and provide them with administrative and contact details in relation to the servicing of their accounts. We look forward to supporting these new customers on the future growth and development of their businesses.”