Bank of Ireland gets green light to buy KBC assets for €5bn

Mark Battersby
clock • 3 min read

Ireland's minister for finance has cleared the €5bn acquisition by Bank of Ireland of assets from Belgian bank and insurance firm KBC Group NV. In a statement on 2 December, KBC Bank Ireland welcomed the decision to approve the sale of substantially all of its performing loan assets and liabilities to Bank of Ireland Group. On 16 April 2021, KBC Bank Ireland had entered into a Memorandum of Understanding (MoU) with Bank of Ireland Group.  On 22 October 2021 KBC Bank Ireland entered into a legally binding agreement with Bank of Ireland Group whereby it would acquire substantially al...

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