2,117 KBC mortgage accounts redressed since tracker mortgage scandal

2,117 KBC mortgage accounts redressed since tracker mortgage scandal

2,117 mortgage accounts with KBC Bank Ireland have received redress and compensation since the tracker mortgage scandal.

KBC has said it remains on track to meet its commitment to complete redress and compensation to all impacted customers by the end of June 2018.

The total number of mortgage accounts identified as impacted as at the end of April was 2,773.

This rate rectification process concluded at the end of February and all customers identified as impacted are now on the correct rate.

KBC hsa reiterated its apologies to all impacted customers for the harm and distress caused by the bank’s error or failure.

Meanwhile, the bank has reported a net profit of €59 million after tax and impairments for Q1 2018 compared to a net profit of €70.4 million in Q1 2017.

KBC Group ended the first quarter of 2018 with a net profit of €556 million, compared with €399 million in the last quarter of 2017 and €630 million in the first quarter of 2017.

Almost 20,000 new customer accounts were added in the first three months of the year, bringing total customer numbers to more than 267,000.

Wim Verbraeken, Chief Executive, KBC Bank Ireland, with Dara Deering, Executive Director, Retail Banking pictured in KBC’s Innovation Hub.
Wim Verbraeken, Chief Executive, KBC Bank Ireland, with Dara Deering, Executive Director, Retail Banking pictured in KBC’s Innovation Hub.

Dara Deering, Executive Director, Retail Banking, KBC Bank Ireland, said:

“KBC is committed to providing customers with value, competition and choice in the market, taking a digital-first approach. KBC’s retail offering has been developed in conjunction with consumers, in the knowledge that the benchmark for customers’ expectations of banking is being set outside the sector by other consumer brands and technologies.

"It’s vital that KBC continues to innovate to stay ahead of change. We’re achieving that for our customers by listening, and constantly refining what we do in a market that’s moving at an ever-increasing pace.”

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