KBC 'will only complete exit from Ireland when 27 tracker mortgage cases settled'

Oireachtas finance committee hears the bank expects to finally exit the Irish market in the second half of 2022

KBC Bank is sticking to its plan to have exited Ireland by late next year but its timing will depend on the Competition Commission decision over its transfer of €9bn mortgages to Bank of Ireland, the bank boss who is overseeing the withdrawal has said.

Chief executive Ales Blazek told the Oireachtas finance committee the bank won't be gone until it has resolved all obligations for its part in the tracker mortgage scandal including 27 outstanding cases brought by its customers that are currently in front of courts.