KBC Group: KBC Bank Ireland enters into a Memorandum of Understanding with Bank of Ireland Group
16 Aprile 2021 - 8:00AM
KBC Group: KBC Bank Ireland enters into a Memorandum of
Understanding with Bank of Ireland Group
Joint Press Release
Outside
trading hours – Regulated information*
Brussels, 16 April 2021 (8.00 a.m. CEST, before stock exchange
hours)
KBC Bank Ireland enters into a Memorandum
of Understanding with Bank of Ireland Group
- KBC Bank Ireland has entered into a Memorandum of
Understanding (MoU) with Bank of Ireland, expressing the parties’
intention to explore a route that could potentially lead to a
transaction whereby Bank of Ireland commits to
acquire substantially all of KBC Bank Ireland’s performing loan
assets and liabilities. The transaction remains
subject to customary due diligence, further negotiation and
agreement of final terms and binding documentation, as well as
obtaining all appropriate internal and external regulatory
approvals.
- KBC Bank Ireland’s remaining non-performing mortgage
loan portfolio, which is not part of the MoU, is currently being
analysed whereby KBC Group is reviewing its options to divest this
NPL portfolio.
- Execution of these two transactions would ultimately
result in KBC Group’s withdrawal from the Irish market.
While these discussions are ongoing, KBC Bank
Ireland remains committed to offering its retail banking and
insurance services of the highest level through its digital
channels and hubs, for its existing and new customers. There is no
impact on KBC Bank Ireland customers’ products or services and they
do not need to take any action as a result of this
announcement.
- 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 GroupTel +32 2 429 85 45
- E-mail: viviane.huybrecht@kbc.be, pressofficekbc@kbc.be
Website : www.kbc.com
Kurt De Baenst, General Manager, Investor Relations, KBC
GroupTel +32 2 429 35 73 - E-mail: IR4U@kbc.be
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:
Damien.garvey@boi.com
Darach O’Leary, Head of Group Investor Relations,
Bank of Ireland Tel +353 (0) 87 948 0650 – E-mail
Darach.oleary@boi.com
KBC Bank Ireland Edelman - Joe
Carmody, CEO – Tel + 353 86 805 87 64
joe.carmody@edelman.com
* This news item contains information that is subject to the
transparency regulations for listed companies.* This announcement
contains inside information.
- 20210416-joint-release-KBC-BOI-MOU-en
Grafico Azioni KBC Groep NV (EU:KBC)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni KBC Groep NV (EU:KBC)
Storico
Da Apr 2023 a Apr 2024