The chief of IK refuses to rule out selling the family home bad credit

  • The chief of IK refuses to rule out selling the family home bad credit
    Independent.t. E.
    KBC Bank Ireland plans to sell a portfolio of bad loans – including buy-to-let mortgage.
    https://www.independent.ie/business/irish/kbc-boss-refuses-to-rule-out-sale-of-family-home-bad-loans-37201458.html
    https://www.independent.ie/business/irish/article37201457.ece/f5357/AUTOCROP/h342/2018-08-10_bus_43152861_I1.JPG

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KBC Bank Ireland plans to sell a portfolio of bad loans – including buy-to-let mortgage.

Without family mortgage loans are included, but the CEO WIM Verbraeken said that he could not “in principle” to exclude such sales in the future, adding that nothing was taken.

Speaking to the Irish independent policy, said Mr. Verbraeken sensitivity for the sale of the family home loans played a role in the decision to exclude them from this sale, which is scheduled for completion this year and includes loans with a nominal value of €1.9 billion.

“We are very significantly reduced the number of cases of arrears and our non-performing exposure in an organic way, and we will continue to do so,” said Mr Verbraeken.

“When this transaction closes we will continue to work with remaining non-performing exposures credit we have, which will primarily that pdh (private dwelling house) a book that is in distress. We see the potential to further reduce that over time.”

Irish division of the Bank achieved a net profit of €115.9 m in the first half, compared to €173.1 million in the same period last year. He said that the decline was mainly due to the fact that last year she released more reserves for loans going bad.

She added more than 40,000 new customers in the first half. The Bank said the digital products, such as the application allows customers to create a Bank account on their phones – energizes it. Came in new mortgage lending of €422m in the first half, an increase of more than 26.7 PC in comparison with the first half of last year.

Last year the Bank announced it was looking at micro-small and medium business in a particular area of interest. Dara Deering, Director of KBC retail banking, said the Bank has identified the professional sphere and, in particular, entities like law firms and dental practices, as a potentially attractive sector.

Said Mr. Verbraeken Bank is looking at developing insurance proposals with help of experts from the parent company in Belgium to supply products directly, and with a wider range, though he said it was “down the road”. He currently provides Products through a third party.

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