This is taken from their parent banks financial statement. It looks a bit worrying? How can these people pay the highest rate available in Ireland?
On 2 January 2012, KBC repaid a first tranche of 500 million euros in respect of the YES (Yield Enhanced Securities) to the Belgian Federal Government, plus a 15% penalty. We are continuing our efforts to ensure that the 4.7 billion euros in state aid (before any penalty) is reimbursed by the end of 2013, as set out in the European plan
RBS (Ulster), BoI, AIB, KBC PTSB, IBRC all have massive state aid. At least KBC are repaying the state aid.
they are paying over 4% to Irish depositors to get in enough cash to pay back the Belgian government.
Have used them for some term deposits. No problems. Only issue is they do not seem to have online banking, otherwise the rates and good.
If you're looking to pick flaws you are certainly not doing a very good job. KBC are an enormous Bank.
Enormous means nothing.
I see from their latest financial reports they are trying to offload a number of businesses.
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