herald

Thursday 23 October 2014

KBC pumps in €100m

KBC bank has been forced to inject an extra €100m into its Irish subsidiary due to a significant number of debts that have been defaulted on.

The KBC group has pumped in the additional cash in order to cope with losses that stem from 'non-performing' loans.

Some 22.5pc of the bank's Irish loans are classified as 'non-performing' -- which means that the debts have been defaulted on.

The global head of KBC has previously ruled out selling its Irish unit, stating that the bank intends to generate more profits from retail banking in Ireland.

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