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Thursday 30 March 2023 Dublin: 8°C


Last month
March 2023
# Bank exit
KBC Bank to close 11 of its 12 branches this evening
Just one KBC hub at Grand Canal in Dublin will remain open until 31 August.
This year
# Transfer
KBC closes major deal with Bank of Ireland ahead of Irish market exit
Bank of Ireland is acquiring substantially all of KBC Bank Ireland’s performing loan assets and deposits.
# Finance committee
Ulster Bank to freeze 2,000 active accounts after 'last attempt' to engage with customers
Ulster Bank and KBC appeared before the Oireachtas finance committee today.
# Banking
One in eight Ulster Bank and KBC customers are yet to open a new account elsewhere - survey
68% of customers have either opened a new account or plan to use an existing account in another bank.
Last year
# Banking
Ulster Bank to begin freezing current and deposit accounts from today
The bank announced its withdrawal from the Irish market in February.
# Banking
Ulster Bank and KBC customers urged to update insurance before banks withdraw
Insurance Ireland has said that policies could lapse if customers don’t update their direct debits.
Sixty per cent of Ulster Bank and KBC customers report 'challenges' when switching providers
Transferring direct debits and payments continues to be the most significant issue.
# Banking
Finance Committee hears update from KBC and Ulster Bank ahead of market withdrawal
Ulster Bank told the committee that around 1,000 accounts are currently on track to be frozen from 11 November.
# switching account
New dedicated phonelines set up to help vulnerable customers switch bank accounts
It comes as Ulster Bank and KBC prepare to leave the Irish market.
# Banking
Ulster Bank to write to personal credit card holders to remind them to close accounts
Ulster Bank credit cards will no longer work from March 2023.
# Irish Banking
Almost 300,000 new current accounts have been opened this year, figures show
The figures indicated that Ulster Bank and KBC current account customers are heeding advice to switch banks.
# Withdraw
Under half of polled customers have moved KBC and Ulster Bank accounts ahead of closures
Ulster Bank and KBC are leaving the Irish market.
# time to switch
KBC writes to customers giving them six months to close their accounts
The bank has 130,000 current accounts that are active or have a balance.
# KBC Bank
KBC Bank extends its account closure notice to six months
The original timeframe was 90 days.
All time
KBC to sell most of its loans to Bank of Ireland in €5 billion deal
KBC Bank Ireland said the transaction would ultimately result in KBC Group’s withdrawal from the Irish market.
Pearse Doherty: KBC exit is body blow to customers and staff that will reduce competition
The Sinn Féin TD says the move leaves the future of the Irish banking sector uncertain.
# BOI talks
'Deeply worrying development': Union raises concerns over KBC's potential exit from Irish market
The Financial Services Union will request an “urgent meeting” with the banks.
# Courts
Men jailed over failure to stay away from Roscommon farm seek release from prison
The case has been heard before the High Court.
# The Banks
Irish banks want to take on Revolut together — but why has the competition watchdog 'rejected' them?
Why has it taken so long for Irish banks to address competition from fresh-faced fintech companies?
# strokestown
Controversial Roscommon farm still occupied by several persons, bank claims
The occupation of the property is in direct defiance of orders previously granted by the High Court in favour of KBC.
# Economy
Over half of Irish consumers say Covid-19 crisis will affect their household finances
That’s according to the latest KBC Consumer Index published today.
# strokestown
Court orders arrest of siblings over alleged failure to leave controversial Roscommon farm
Private security operatives were forced from the property by a group of masked men in 2018.
# Banking
AIB joins rival bank in cutting three and five year fixed mortgage rates
Last week, KBC dropped its fixed mortgage rates from 2.85% to 2.55%.
# strokestown
KBC claims siblings are in contempt of court after failing to leave property at centre of controversial eviction
The High Court today heard the McGann family has not complied with a court order.
# Derry
Banks given 'free pass' by this government, SF Ard Fheis told
The Sinn Féin Ard Fheis kicked off in Derry today.
# Sorry
KBC boss apologises to the Irish public after he called the tracker mortgage scandal 'annoying'
“I would like to personally apologise to the Irish people.”
# strokestown
Roscommon family in controversial eviction case given one month to leave home
The eviction gained national media attention last December.
# Falsk
KBC seeks fresh injunction to force family at centre of controversial Strokestown eviction to leave property
The eviction gained national media attention last December.
Consumer sentiment drops to lowest level in almost 6 years as Brexit deadline looms
The KBC Consumer Sentiment Index has fallen to 75.3% in September from 77.2% in August.
# tracker mortgage scandal
KBC Bank admits it used time limit clause in 27 tracker complaints to Ombudsman
A number of banks, including KBC, reversed their decision to challenge the investigation of these complaints after a public rebuke by the ombudsman.
# Roscommon
Paschal Donohoe met KBC to 'reassure' the bank of support after the Strokestown eviction
The bank was criticised for using private security agents to forcibly remove three siblings from their Roscommon home.
# it's the economy stupid
Salaries predicted to rise by 5% on average this year as employers forecast Irish jobs Brexit boost
Consumer sentiment was strong in January as spenders wait to see how Brexit will affect their pockets.
# dragging their heels
'History will judge this': Experts see little change in bank culture after scandals and protests
People who are working every day with customers in arrears say lenders are still refusing to cooperate in any significant way.
# Security
Union says KBC staff 'extremely upset and stressed' by recent incidents
KBC Ireland said it is taking additional measures to ensure the safety of its staff.
# hitting home
Christmas spending: We're not in 'panic mode' but Brexit is putting the brakes on plans to splash the cash
In the UK, consumer confidence registered the largest monthly decline in seventeen months in November.
# clouds on the horizon
Irish consumer confidence falls sharply amid Brexit fears and increase in cost of bills
Consumer sentiment is at its lowest level since December 2016.
# Startups and tech
KBC says banks only have themselves to blame for losing business to digital upstarts
Well-funded fintech startups are lining up to poach customers from traditional banking firms.
# Sentiment Index
No 'feel-good factor' as cautious Irish consumers feeling gloomier
Instead of consumers spending more, it’s more a matter of more consumers spending according to the KBC/ESRI sentiment index.
# Workplace Relations
KBC labelled 'sloppy' for hiring worker with prior conviction
The bank said that the case was an “isolated occurrence”.
# Contempt of Court
Couple released from Garda custody after apologising for refusing to leave their Dublin home
KBC Bank obtained an order directing the couple to vacate their home in Balbriggan, Co Dublin.