Loans in default at KBC to peak at 14%

THE number of loans that have been in default for more than three months are expected to peak at 14% at KBC Bank.

The Belgian bank said its Irish business contributed €13 million to group profit after a year-to-date loan impairment of €45m.

KBC said non-performing loans in Ireland rose to 11.1% in the first quarter of the year, compared to 10.3% in the preceding quarter.