Tag Archives: KBC

This morning.

KBC has confirmed its intention to quit the Irish market.


…Social Democrats co-leader Róisín Shortall said:

“Finance Minister Pascal Donohoe said he found out about KBC’s proposed exit when he received a call from the CEOs of KBC and Bank of Ireland at 9pm last night to advise him the banks had entered into a Memorandum of Understanding to sell KBC’s performing loans to AIB.

“It is concerning that the Minister was apparently among the last to know of the banks’ plans, given their serious implications for both staff and consumers.”


KBC looks at Irish exit plan with Bank of Ireland deal (RTÉ)


This morning.

The Central Bank has fined KBC Bank Ireland more than €18.3m and reprimanded it over its role in the tracker mortgage controversy following an investigation into its conduct.


The regulator said the Belgian owned bank had been responsible for “serious failings” that affected the holders of 3,741 customer accounts between June 2008 and October 2019.

The Central Bank said KBC’s actions had a devastating impact on the customers, with significant overcharging, and a resulting loss of 66 properties – 11 of which were family homes.

The investigation found that 39 of these losses could have been prevented if KBC had implemented a regulatory requirement to cease any actions that would have resulted in additional harm to customers during the review.

KBC Bank Ireland fined €18.3m for tracker mortgage failures (RTÉ)



Thomas Leyson, chairman of Madiahaus which has purchased Denis O’Brien and Dermot Desmond’s shareholdings in Independent News and media

Taking control of Ireland’s biggest media group…

Who is he?

The Belgian-Dutch company has only existed since 2013, but has deep roots in the countries’ newspaper industries. Mediahuis chairman, Thomas Leysen, is one of Belgium’s best-known businessmen, from a family of entrepreneurs and industrialists in sectors such as maritime, industrial cleaning and media.

The 58-year-old is also chairman of KBC Bank, one of Belgium’s biggest, and on the steering committee of the international Bilderberg group of corporate and government leaders. He is also a Member at European Round Table of Industrialists,at The Trilateral Commission

Lizards, dude.

Mediahaus Exapads Beyond Core Dutch Market (FT)


Eoin writes:

Plenty of column inches about the acquisition by Mediahuis (a name that will have been unfamiliar to 99% of Irish journos before yesterday morning) of INM.

No word on how Mediahuis is financing the deal.

No word on the approval process for the acquisition, but Richard Bruton will have a role.

Little analysis on why Mediahuis is buying a pig in a poke with all the potential for litigation against INM by thousands of people whose data was hacked.

Little mention about the chairman of Mediahuis being the chairman of KBC, the bank behind a string of controversial evictions in Ireland and which still has a problematic loanbook to resolve

Little analysis of the value of INM, with €25m current annual profit, €80m of cash in its balance sheet, is €146m a good price?


Yesterday: Dexit

Last Tuesday.

Falsk, Strokestown, Co Roscommon

The forced evicton of two elderly brothers and sister and repossession of a farmhouse by security guards working on behalf of US vulture Cabot, which purchased the loan from KBC Bank. An unnamed retired Garda (above) assisting the siblings was among those injured.

On Wednesday, a day after the eviction.

During a debate concerning the Anti-Evictions Bill…

Independent TD for Roscommon-Galway Michael Fitzmaurice said:

“I welcome the opportunity to speak on this Bill, parts of which are a no-brainer. Many people in this country are receiving notice to quit letters from banks which are moving to sell buy-to-let properties. We need to introduce a law in this country so that this does not continue to happen.

“In my opinion, many of the banks involved are scum.

“Yesterday in County Roscommon a group of 20 or 30 men with dogs came from the North, aided and abetted by An Garda Síochána who blocked off two roads. The group of men pegged three people, two of whom were elderly, out of a house and left them on the side of the road. They were aided and abetted by An Garda Síochána, which is disgraceful.

“Irish people need to wake up, especially if people are coming from the North. We must take them on and stop what is happening.”

Sunday morning.

Falsk, Strokestown, Co Roscommon.

The attack took place at around 5.30am this morning at a recently repossessed house and farm in Falsk near Strokestown.

Security personnel were at the scene when a large number of men in high-viz jackets arrived and attacked them with baseball bats.

The eight people who were injured are all security personnel and the dog that was killed was a security dog.

The farm and house have been sealed off as a crime scene and gardaí have begun a criminal investigation.

Investigation into attack at repossessed farm in Roscommon (RTÉ)

Previously: Eviction Notice

The circle is complete

KBC Bank Ireland has sold a portfolio containing around €1.9 billion worth of loans non-performing buy-to-let mortgages and corporate loans to Goldman Sachs. The loan book also contains performing and non-performing UK buy-to-let mortgages.


Alongside today’s announcement, KBC Bank Ireland also issued its half-year results today, which saw it record a net profit of €115.9 million for the first six months of 2018 after tax and impairment.

Good times.

KBC Ireland sells €1.9bn of non-performing loans to Goldman Sach (RTÉ)