KBC strikes deal with investment fund CarVal for €1.1bn non-performing loans

KBC has now announced that investment fund CarVal will get almost all of the rest of its loan book.

KBC Bank said it will transfer €1.1bn of non-performing home loans and landlord buy-to-let mortgages to investment fund giant CarVal, as it comes close to completing the final steps of its exit plan from the Irish banking market.

Pepper Finance has been lined up to deal with customers to service the loans on behalf of CarVal.