KBC announcement1. What KBC Bank Ireland portfolios are being acquired by Bank of Ireland?
Bank of Ireland has agreed to purchase portfolios of KBCs performing mortgages, performing commercial and consumer loans, credit cards plus a book of deposits. In addition, a small portfolio of non-performing mortgages will also be acquired as part of the transaction.2. Why is Bank of Ireland acquiring these portfolios?
The acquisition of these portfolios is a positive development for our business and consistent with our growth strategy.3. When will the deal be complete?
Completion of the acquisition is conditional on the satisfaction of customary conditions including approval by the Competition and Consumer Protection Commission.4. I am a KBC Bank Ireland customer, do I need to take any action?
KBC Bank Ireland customers do not need to take any action at this point as a result of this announcement. Both KBC Bank Ireland and Bank of Ireland will communicate to customers about the next steps well in advance of any actual steps or changes that may be taken, giving plenty of notice in line with all legal and regulatory protections.5. I am a Bank of Ireland customer, is there any change for me?
No, there will be no change.6. I am a KBC Bank Ireland customer, can I contact Bank of Ireland about my product?
No, there is no change for now, if you are a KBC customer you can contact KBC customer services on 1800 939244 or contact your local KBC Hub. KBC customers can find more information on kbc.ie.