KBC Group will announce their decision on the future of KBC Ireland at the release of the bank’s 2016 results (due February 9th) according to a report in the Irish Independent today.
KBC Group management have previously communicated that the first priority for the Irish business was to become profitable (achieved in 2015, further strengthened in 2016 with net income of €90m).
The press report contains comments from KBC Group CEO, Johan Thijs, in which he noted that “we're going to tackle” the Irish market going forward. The CEO’s comments were made at an event to mark KBC’s acquisition of United Bulgarian Bank (UBB) and Interlease.
According to Goodbody Stockbrokers, "Based on the improving underlying business performance and the positive outlook, coupled with the KBC Group CEO’s comments, we expect KBC Group to reiterate its commitment to the Irish market next month."
Source: www.businessworld.ie
