FinanceDublin.com - <b>Deals of the Year 2024: </b>Landmark banking transaction involved over €9 billion of mortgage loans and over €4 billion of deposits

The deal between Bank of Ireland and KBC comprised the purchase of a portfolio of performing mortgage loans worth €8.8 billion, €4.4 billion of deposits as well as non-performing mortgage loans, commercial and consumer loans, as well as KBCI’s credit card portfolio that involved a hybrid approach of using both statutory and contractual transfer mechanisms.

Bank of Ireland’s acquisition of the majority of KBC’s Irish banking business was one of the most significant Irish M&A deals in the last decade. For Bank of Ireland the deal represented a key strategic and commercial acquisition expanding its mortgage book and deposits while for KBC it facilitated its timely exit from the Irish market.

The transaction was one of the largest M&A banking transactions ever in Ireland and involved the sale of the majorit....

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