26.04.2024 17:45:06 - dpa-AFX: GNW-Adhoc: KBC Group: KBC Bank Ireland (now Exicon DAC) to return its banking licence to the Central Bank of Ireland on 30 April 2024
KBC Bank Ireland (renamed Exicon DAC on 8 February 2024) can confirm that it
will return its banking licence to the Central Bank of Ireland on 30 April
2024, after having received approval from the Central Bank of Ireland and the
European Central Bank.
KBC Bank NV Dublin Branch staff will continue to be available to support any
queries from customers. Customers retain their legal and regulatory protections.
(More information for customers on https://www.kbc.com/en/kbc-ireland.html )
KBC Bank Ireland wishes to sincerely thank its customers and stakeholders for
their trust over the past decades and express its deep gratitude to all KBC Bank
Ireland employees who have maintained the highest of standards in their work,
providing continued support to customers and to each other while preparing the
orderly exit.
Background
KBC Bank Ireland was established in 1973 as Irish Intercontinental Bank. In
1978, KBC Bank (https://en.wikipedia.org/wiki/KBC_Bank) took a 75% interest in
Irish Intercontinental Bank. KBC Bank (https://en.wikipedia.org/wiki/KBC_Bank)
acquired a full 100% shareholding in 1999. On the 30th anniversary of KBC's
majority ownership in 2008, the Bank was renamed KBC Bank Ireland plc.
Given the challenging operational context for European banks and after careful
consideration, KBC Bank Ireland entered into a legally binding agreement with
Bank of Ireland relating to the sale of substantially all of KBC Bank Ireland's
performing loan assets and its deposit book to Bank of Ireland Group on 22
October 2021. In addition, a small portfolio of non-performing mortgages (NPEs)
was also acquired by Bank of Ireland as part of the transaction(link
(https://www.kbc.com/content/dam/kbccom/doc/newsroom/pressreleases/2021/20211022
-KBC-BOI-deal-en.pdf) to press release)
KBC Bank Ireland closed the sale of substantially all of its assets and
liabilities to Bank of Ireland on 3 February 2023 (link
(https://www.kbc.com/content/dam/kbccom/doc/newsroom/pressreleases/2023/20230203
-pb-ireland-closing-en.pdf) to press release) and started preparing the return
of its banking licence to the Central Bank of Ireland.
As KBC Bank Ireland would no longer be operating in the Irish market, on 25 May
2023 KBC Bank Ireland and KBC Bank NV, acting through its branch in Ireland,
agreed the transfer of any remaining accounts and servicing activity to KBC Bank
NV Dublin Branch. On 13 September 2023 the Minister for Finance approved the
Transfer. On 1 December 2023 KBC Bank Ireland completed the transfer agreement
in respect of substantially all of its remaining assets and current and future
liabilities to KBC Bank NV Dublin Branch which includes all unidentified and
identified residual customer or regulatory claims or liabilities of the Bank.
KBC Bank NV Dublin Branch is licenced by the National Bank of Belgium in Belgium
and is regulated by the Central Bank of Ireland for conduct of business
rules. On 8 February 2024 KBC Bank Ireland was renamed Exicon DAC.
For more information, please contact:
Kurt De Baenst, General Manager, Investor Relations, KBC Group
Tel. + 32 2 429 35 73 - IR4U@kbc.be (mailto:IR4U@kbc.be)
Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC
Group
Tel + 32 2 429 85 45 - pressofficekbc@kbc.be (mailto:pressofficekbc@kbc.be)
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