KBC optimistic despite €110m loss

BELGIAN banking group, KBC is looking to grow further in Ireland, despite its operations here making a €110 million post-tax loss in the first nine months of 2011 and is set to see impairment charges grow by about €400m in the next six months.

KBC Bank Ireland’s loss was driven by an impairment charge of €187m for under-performing loans in the third quarter and a charge of €282m for the first nine months (up year-on-year from €223m).

Before impairment, the company made a profit of €172m for the period.