KBC poised to expand Irish operations

KBC bank is expanding its operations in Ireland to take advantage of the economic recovery, says its chief executive, John Reynolds.

The bank is bucking an unwelcome trend as a number of foreign-owned banks are either leaving the Irish market or significantly scaling back operations. Mr Reynolds says he hopes to capture roughly 10% of the mortgage market over the next few years as well as beefing up its retail presence.

The pace of the mortgage arrears crisis had eased considerably over the fourth quarter of last year compared with the first quarter, he said.