KBC Bank owner expects to complete Irish loans sale in 2022

Bank of Ireland is expected to acquire the loan book of the departing Belgian-owned bank in the second half of next year

The Belgian owner of KBC Bank in Ireland said it expects to complete the sale of its loans and deposits to Bank of Ireland in the second half of next year, after saying it took a hefty charge in its latest earnings report to take account of the looming transaction. 

KBC earlier this year became the second bank after Ulster Bank to say it was quitting the Republic, claiming it could make a better return on its capital elsewhere in Europe.