IT: KBC Increase Mortgage Loan Loss Provisions Again

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KBC increases Irish loan provision

irishtimes.com/newspaper/bre … king6.html

It is also increasing its provisions for the bank’s residential mortgage portfolio, pointing out that “the continuously high level of unemployment may cause higher arrears and default ratios for mortgage loans to retail customers.”

“KBC Bank Ireland remains a sufficiently capitalised bank” the bank said.

As regards the irregularities in its KBC Lease UK business, the bank said that “a full and thorough review” is being conducted by both the relevant authorities and KBC’s internal audit and compliance departments.

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pointing out that "the continuously high level of unemployment may cause higher arrears and default ratios for mortgage loans to retail customers

Holy crap Batman. How come no one spotted this connection before!!
Maybe its time to get rid of your chief economist. If this sheet this only coming on your radar now lads ye don’t have much future in banking. At least the Belgium taxpayer can look after this one.