KBC Bank Ireland reach 250,000 customers and reveal net profit of €102.7m in Q2 2017

KBC Bank Ireland reached a new milestone of over 250,000 customers now banking with KBC with the bank adding almost 33,000 new customer accounts in H1 2017.

The milestone comes as the bank reported a net profit of €102.7m after tax and impairments for Q2 2017.

This compared to a profit of €39.5 million for the same period in 2016. Net profit for the first six months of the year stood at €173.1 million after tax and impairments, up €99.4m on the six months to June 2016.

KBC Group ended the second quarter of 2017 with a net profit of €855 million, combined with €630 million in the first quarter of 2017, this brings the net result for the first half of 2017 to €1,485 million, a 33% increase on the €1,113 million reported in the first half of 2016.

KBC Bank Ireland is the digital frontrunner for KBC Group, which is investing a further €1.5 billion group-wide in digital transformation between 2017 and year end 2020.

Figures released today show customers are embracing digital banking at KBC Bank Ireland with

6 out of 10 Current Accounts opened in H1 2017 being via digital channels, up 58% from the same period last year.

The figure salso show that total mobile transactions are nearly 10 times greater than total online transactions an dthat 78k customer payments were made via Android Pay and Apple Pay in H1 2017

Wim Verbraeken, Chief Executive, KBC Bank Ireland said the bank were pleased to report strong organic growth and continued profitability across all areas of KBC’s business, underscoring our position as Ireland’s leading digital bank with products and services that enable customers to bank in a new way, for a new era.

"The milestone of 250,000 customers is testament to that. Our Innovation Hub is part of KBC Group’s overall €1.5 billion investment in digital. It will deliver local transformation in how consumers bank, while benefitting other KBC core markets within the Group.

"It’s an exciting time for customers and KBC Bank Ireland. We have a scalable business model to deliver on ambitious targets, and the drive to achieve these.”

Dara Deering, Executive Director, Retail Banking, KBC Bank Ireland, said KBC will capture increased market share across the retail banking market, whether for current accounts, mortgages or personal loans.

"We will achieve this through organic growth and competitive offerings – our mortgages are some of the most competitive in the market today. There is greater scope for switching, and we are challenging consumers to find better value at KBC and benefit from our digital-first approach.

"Innovative and intuitive banking products and services like our new mobile onboarding app and 24/7 customer contact will transform how customers bank.”

KBC Bank Ireland employs over 1,000 people in Ireland and has retail banking hubs in Dublin, Cork, Galway, Limerick, Kildare, Waterford, Wicklow and Kilkenny, where staff play a positive and active role in the communities where they live and work.

- Digital desk 


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