Matheson has advised Bank of Ireland on its acquisition of all of the performing loan assets and deposits of KBC Bank Ireland for about €5 billion as the Belgian lender withdraws from the Irish market.
The deal comprised the purchase of a portfolio of performing mortgage loans worth €8.8 billion, €4.4 billion of deposits, €300 million of non-performing mortgage loans, €100 million of performing commercial and consumer loans, as well as KBC Ireland’s credit card portfolio. Completion of the acquisition remains subject to regulatory and competition clearances.
The Matheson team was led by partners Patrick Molloy (Finance and Capital Markets Group), Helen Kelly (EU, Competition and Regulatory Law Group), Caroline Kearns (Financial Institutions Group), Bryan Dunne (Employment Group) and Elaine Long (Financial Institutions Group). They were supported by a large team of Matheson specialists including partners Joe Beashel (Regulatory Risk Management and Compliance Group), Anne-Marie Bohan (Technology and Innovation Group), Paul Carroll (Finance and Capital Markets Group), and Gerry Thornton (Tax Group).
