Bank narrows losses as loan charges fall

KBC Ireland narrowed its losses over the second quarter of the year as the impairment charge for loan losses fell by almost a third compared with the same period in 2012.

The after-tax loss for the three months to the end of June was €69m compared to €96m for the second quarter of last year. Impairment costs from €136m to €88m over the same timeframe.

“Conditions remain challenging in the Irish market, but our year-on-year losses have decreased and our retail business continues to grow at an encouraging rate,” chief executive John Reynolds said.