10 March 2023
By Mary Bermingham
Bank exits Irish market
KBC Bank Ireland will permanently close all bar one of its remaining branches -‘hubs’ as it refers to them – across the state later today.
Lapps Quay Cork, Wilton Shopping Centre Cork, Galway, Limerick, Waterford, Maynooth, Main Street Swords, Blanchardstown Shopping Centre, College Green Dublin, Baggot Street Dublin and Stillorgan will close at 5pm.
Customers were given notice of the closure six months ago, as the bank wind’s down its operations ahead of its exit from the Irish market.
Just one branch, at Grand Canal in Dublin, will stay open until 31st August 2023 to support the small number of customers who may still need to attend in person.
The closures will result in 75 people losing their jobs.
Most customers have transferred to Bank of Ireland. Those that have not can continue to interact with KBC via the mobile app, online, by phone or by post.
KBC Bank Ireland plc is a bank in Ireland with offices in Dublin, Cork, Limerick, Galway, Waterford and Belfast.
It was established in 1972 as Irish Intercontinental Bank. In 1978 KBC Bank, which is headquartered in Brussels, acquired a 75% interest. KBC Bank acquired a full 100% shareholding in IIB in 1999, and in 2000 the bank’s name changed to IIB Bank. In 2008, the 30th anniversary of KBC’s majority ownership, the bank was renamed KBC Bank Ireland plc.
KBC Bank Ireland provided a wide range of banking services including Corporate, Commercial and Business Banking, Private Banking and Treasury & Capital Markets. Its mortgage division, KBC Homeloans, was a leading mortgage provider in Ireland.
KBC began operating a branch network in 2012 with a further build-out in 2014. This followed the exit of Halifax Ireland and Danske Bank from the Irish retail market, with some branches being located in former locations of those banks.
In April 2021, KBC entered into talks with Bank of Ireland to sell its performing loan book and announced its intention to withdraw from Ireland.