KBC Bank Ireland report increased profits of €19.8 for third quarter of the 2016

KBC Bank Ireland has reported a net profit of €44.4m for the third quarter of the year.

That compares to a profit after tax and impairments of €24.6m for the same period in 2015.

One third of new current accounts were opened through digital channels while mobile and online usage has increased by 109% on the same quarter last year.

Commenting on the financial results, Wim Verbraeken, Chief Executive of KBC Bank Ireland said: “I am pleased to report strong profitability across all areas of the business with the continued support and investment of our shareholder.”

“We remain firmly focused on developing products and services that are truly innovative, offer value for money and stand out in today’s market. The enduring popularity of our combined current account and mortgage offering and recent mortgage rate reductions best exemplify that commitment to our customers. Looking ahead, we remain firmly focused on meeting customers’ needs for innovative, competitively priced banking products and growing market share across our business.”

“It is encouraging to note our significant progress in offering resolutions to some 95% of our distressed customers. We continue to work closely with any customers in financial difficulties to try and reach suitable, sustainable resolutions.”

KBC Bank Ireland employs over 1,000 people in Ireland with retail banking hubs in Dublin, Cork, Galway, Limerick, Kildare, Waterford, Wicklow and Kilkenny.