KBC moves closer to profitability

KBC Bank Ireland reported a loss of €14m for the third quarter of the year compared with a €51m loss for the same period last year.

The bank’s management team says it is on track to return to profitability in 2016.

Loan impairments were €47m for the three-month period compared with €98m in 2013. KBC’s retail deposit reached €3.3bn by the end of September, which is up from €2.7bn at the end of last year.