Regulator urged to force Bank of Ireland to run KBC mortgages as separate entity

KBC earlier this year announced its intention to exit the banking market in the Republic

Last month, Bank of Ireland entered into a binding agreement with KBC for the acquisition of €9.2bn worth of loans and €4.4bn worth of deposits.

The competition regulator has been urged to insist that Bank of Ireland services the mortgages it plans to acquire from KBC Bank Ireland through an independent subsidiary, as part of the conditions of any approved transaction.

KBC, earlier this year, followed Ulster Bank in announcing its intention to exit the banking market in the Republic.