KBC: sells corporate loan portfolio to Bank of Ireland
(CercleFinance.com) - KBC on Friday said that it has sold a 260 million euro portfolio of corporate loans from its Irish arm to Bank of Ireland, as it continues to focus on retail and micro-SME clients in this country.
KBC has been gradually downscaling its performing and non-performing corporate loan portfolio in Ireland over the past few years so as to optimise its balance sheet and reduce earnings volatility.
The deal, which is expected to close in 2019, will have a negligible impact on KBC Group's financial ratios, the group said.
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