Home Stock & SharesBanks KBC Bank Ireland: Profit increase of €19.8m reported for third quarter of 2016

KBC Bank Ireland: Profit increase of €19.8m reported for third quarter of 2016

by Jonathan Adams

KBC Bank Ireland has reported a net profit of €44.4m for the third quarter of 2016.

Surge in digital usage

One third of new current accounts were opened digitally. Mobile and online usage has increased by 109% for the same quarter of previous year.

Commenting on the financial results, Wim Verbraeken, Chief Executive of KBC Bank Ireland said: “I am pleased to report strong profitability across all areas of the business with the continued support and investment of our shareholder.”

“We remain firmly focused on developing products and services that are truly innovative, offer value for money and stand out in today’s market. The enduring popularity of our combined current account and mortgage offering and recent mortgage rate reductions best exemplify that commitment to our customers. Looking ahead, we remain firmly focused on meeting customers’ needs for innovative, competitively priced banking products and growing market share across our business.”

“It is encouraging to note our significant progress in offering resolutions to some 95% of our distressed customers. We continue to work closely with any customers in financial difficulties to try and reach suitable, sustainable resolutions.”

KBC Bank Ireland has more than 1,000 employees in Ireland. The bank has retail banking hubs in Dublin, Cork, Galway, Limerick, Kildare, Waterford, Wicklow and Kilkenny.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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