KBC Ireland makes loss of €864m

KBC Ireland made a loss of €864m last year as it ramped up loan impairments over the fourth quarter.

The Belgian-owned bank made an operating profit of €159m for 2013, however, it made total loan loss provisions of €1,059m for the 12-month period compared with loan loss provisions of €547m for 2012.

Over the last three months of 2013 it increased provisions by €671m for the year in order to take a more conservative approach to non-performing loans.