Industry & Business

KBC Bank reports operating profit for 2015

KBC Bank reports operating profit for 2015

February 18
16:32 2016

KBC-bank-Ireland-may132009KBC Bank Ireland has today reported an operating profit of €119m before tax and impairment costs for full-year 2015.

The bank reported loan impairment costs of €48m for 2015.

According to the bank, it attracted over 74,000 new customer accounts last year and increased its market shares for mortgages to 14%.

The bank’s deposit acquisition also grew, with deposits now at €5.1bn, compared with €4bn.

KBC opening of new retail banking hubs in locations including Wilton (Cork), Waterford, Naas, Kilkenny and Greystones and a flagship digital hub on College Green in Dublin.

Commenting on the financial results, Wim Verbraeken, chief executive of KBC Bank Ireland said: “We are very satisfied with our financial performance for 2015.

“We are pleased to see that we are making good progress to delivering on our strategy to become Ireland’s retail bank of the future.

“By continuing to invest in our digital channels, expand our physical network and develop competitive products, KBC attracted over 74,000 new customer accounts in 2015.

“This is a significant achievement just three years after becoming Ireland’s newest retail bank, demonstrating that KBC knows the market and understands customers’ banking needs right across current account and deposits, mortgages and loans, investments, credit card and insurance.

“We also remain fully committed to working closely with customers in financial difficulties to try and establish a suitable resolution.

“Looking ahead, our focus is to grow our retail business and give customers the best banking experience in the market through our digital and physical channels.

“Our latest mortgage proposition is highly competitive, offering customers the lowest monthly mortgage repayments in the market today.

“We are confident that continued investment, innovation, competitive product developments and offers will further cement KBC’s attractiveness to consumers in the coming year.”

KBC Bank Ireland employs over 1,000 people in Ireland with retail banking hubs in Dublin, Cork, Galway, Limerick, Kildare, Waterford, Wicklow and Kilkenny.

Internationally, KBC Group reported a net profit of €2.639bn for the full-year 2015 (compared to €1.762bn in 2014).

KBC Group ended the last quarter of 2015 with an exceptional net profit of €862m.

Excluding liquidation of Financial Holding Inc. and impairments on goodwill the net profit amounted to €2.218bn for the full-year 2015 and €441m for Q4 2015.

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