![]() The exact size of the portfolio and consideration payable will vary between now and completion based on normal business flows, but is not expected to be materially different at the time of completion. The Group will acquire the performing mortgages for 103.6% of par value, representing the fair value of the assets and demonstrating the quality of the portfolio. Agreement reached on KBC Bank Ireland portfolioīank of Ireland Group plc (together with its subsidiaries the “Group” or “BOI”)Īcquisition by Bank of Ireland of KBC Bank Ireland plc’s (“KBCI”) performing loan portfolios and depositsįurther to the Memorandum of Understanding (“MOU”) announced on 16 April 2021, and following completion of a due diligence process, the Group has today entered into a binding agreement with KBCI and KBC Group for the acquisition of c.€8.8 billion 1 of performing mortgages, c.€0.1 billion of performing commercial and consumer loans and c.€4.4 billion of deposits.
0 Comments
Leave a Reply. |