KBC Increases its Forecast for Loan Losses
When the bank must forecast about increase from loans and run at €40m to €50m, in the lower level make the bank unpredicted for August. Belgian bank was got ability dictate in terms by syndicated loans. In the quarter until September by KBC Ireland loan had lose of €53m. While it has expected Ireland’s credit cost to be €20m to €30m a quarter. It’s going to be closer between €40m and €50m. In the portfolio, it has less than €2bn of the bank’s €17.4bn loan book but it has been hit by the highest level of provisions. Where the buyers are going to come from but everyone starts dumping loans on the Irish market.
Luc Philips as bank’s group finance boss was said for analysts KBC being forced to partner NAMA in some syndicated loans. In this syndicate that about three other Irish bank’s that each holding a quarter. For comfortable position it must focus for majority to force through restructurings. In the case of mortgage, Bank has already taken provision of 21pc against owner occupied portfolio and 26pc against its buy-to-let book. It must be better. for participated in consolidate between bank and government, which in the fall of this years.