EBS has joined Permanent TSB, KBC and the former Irish Nationwide in passing on the full 0.25% cut in interest rates announced by the ECB.

Investec has said that it will look at the implications of owning two specialist mortgage providers in the Irish market in the coming weeks.

Ailing mortgage lender Kensington Group today agreed to be bought by banking firm Investec in a deal valuing the group at £283m (€416m).