KBC has had a profitable start to 2016

It's cut its loan-loss provision...

KBC has had a profitable start to 2016

KBC Ireland, Facebook

KBC Bank Ireland, the subsidiary of the Belgian Banking Group, has announced net profits after tax and loan impairments of €74m for the six months to the end of June following a strong second quarter performance in particular.

The bank was still loss-making at the half-year stage last year.

KBC, which employs about a thousand people here, says it added 33,000 new customer accounts during the first half of the year.

The value of the bank’s impaired or non-performing loans continued to fall during the period – down 14% to a still substantial €6.1bn.

While KBC Ireland’s chief executive, Wim Verbraeken, says the performance makes the bank a proven competitive force for personal banking products and services, it’s understood KBC Group continues to review the future of its subsidiary in Ireland.

He said he is "pleased that our positive start to the year has gathered momentum and resulted in a very strong second quarter ... We are focused on growing with our customers, staff and working with our communities and consolidating our reputation for a quality banking experience with an innovative edge."