KBC Bank reveals reason it is keeping a presence in Ireland

KBC Bank says it is here to stay after confirming its commitment to Ireland.

On Wednesday, the bank shut down speculation it was pulling out of the market, alleviating the fears of more than 1,000 staff.

Among the reasons to affirm Ireland as a core market are the young population, growing economy and positive economic outlook.

Group CEO Johan Thijs said: "The biggest reason why we took the decision of staying, and further building the bank, is that it is a profitable financial institution.

"And that for us is key."

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