KBC bank considering exiting Irish market
KBC is in talks to sell off performing loans to Bank of Ireland.
Both banks signed a Memorandum of Understanding which would see both banks continue negotiations to transfer the loans.
KBC's non-performing loans are not included, with the bank looking at other options, which would mean their exit from the Irish market.
The bank operates two hubs in Cork at Wilton Shopping Centre and on Lapp's Quay in the City.
Business Correspondent Gavin McLoughlin says it highlights the difficulties banks operating in Ireland are facing:
"KBC for example this morning is citing the challenging context for European banks. So we know it's hard to make money in general as a bank in Europe with low interest rates, and it's hard to make money here, as Ulster Bank said when they were leaving. You know, they have to put more capital aside and reserve for Ireland and elsewhere."
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