Possible KBC interest rate hike

KBC Bank is not ruling out an interest rate increase for some of its 58,000 mortgage customers in Ireland this year.

It said any decision on interest rates depends on the performance of the economy but KBC Ireland, chief executive John Reynolds said if there was to be a hike it would likely be in the latter half of the year.

KBC Ireland reported profits, after tax and impairment costs of €92 million for 2009, down more than 10% from the 2008.