KBC: Dublin approves asset sale to Bank of Ireland

(CercleFinance.com) - On Tuesday KBC announced that the Irish Competition Authority has approved the sale of almost all of its assets and liabilities of performing loans to Bank of Ireland.


The Belgian banking group said the transaction was given the green light yesterday by the Irish Competition and Consumer Protection Commission (CCPC).

In April 2021, KBC signed a MoU with Bank of Ireland for the sale of most of KBC Bank Ireland's performing loan and deposit assets.

In addition, a small portfolio of non-performing mortgage loans will also be acquired as part of the transaction.

The agreement is still subject to ministerial approval.


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