Monday 18 December 2017

Three months profits at KBC Ireland pass €100m mark

KBC Bank
KBC Bank

Donal O’Donovan

KBC Bank Ireland has reported profits of €102.7m for the three months to the end of June, compared to just under €40m in the same period last year.

The bank said customer numbers are now at a record high of 250,000 in Ireland.

New mortgage lending in the first six months of 2017 rose 29pc to €333m, according to the latest report from the bank.

Mortgage arrears cases fell by close to a fifth in the same period, KBC said, with nine out of 10 cases having now been offered a restructuring arrangement.

Read more: New mobile app from KBC as bank continue 'digital-first' approach with €1.5bn investment

Belgian parent KBC Group ended the second quarter of 2017 with a net profit of €855m, pushing first half profits to €1.485bn - up a third on the same period last year.

In Ireland, the bank reported a net profit of €102.7m after tax and impairments for the second quarter.

The boosted net profit for the first six months of the year to €173.1m after tax and impairments, up €99.4m compared to the six months to June 2016.

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