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.
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…
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.”
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.
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.