Bank of Ireland Group PLC KBC Acquisition Receives Final Approval (4099I)
December 02 2022 - 2:05AM
UK Regulatory
TIDMBIRG
RNS Number : 4099I
Bank of Ireland Group PLC
02 December 2022
Bank of Ireland Group plc (the "Group")
Final transaction clearance for acquisition of certain assets
and liabilities of KBC Ireland
2 December 2022
The Group welcomes the approval by the Minister for Finance,
Paschal Donohoe TD, of the Group's acquisition of certain assets
and liabilities of KBC Bank Ireland plc ("KBCI") as previously
outlined in the Group's 22 October 2021 announcement. The
Ministerial Order is subject to the provisions contained in Part
III of the Central Bank Act 1971 and this is the final required
approval in respect of this acquisition.
Bank of Ireland continues to work closely with KBC to ensure a
smooth and seamless transfer of customers. As previously updated in
our H122 results, we expect this transaction to close by end Q1
2023.
Ends
For further information please contact:
Bank of Ireland
Mark Spain, Group Chief Financial Officer +353 1 2508900 ext
43291
Eamonn Hughes, Chief Sustainability & Investor Relations
Officer +353 (0)87 2026325
Darach O'Leary, Head of Group Investor Relations +353 (0)87
9480650
Damien Garvey, Head of Group External Communications and Public Affairs +353 (0)86 8314435
Forward Looking Statement
This announcement contains forward-looking statements with
respect to certain of the Bank of Ireland Group plc (the 'Company'
or 'BOIG plc') and its subsidiaries' (collectively the 'Group' or
'BOIG plc Group') plans and its current goals and expectations
relating to its future financial condition and performance, the
markets in which it operates and its future capital requirements.
These forward-looking statements often can be identified by the
fact that they do not relate only to historical or current facts.
Generally, but not always, words such as 'may, ' 'could,' 'should,'
'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,'
'believe,' 'plan,' 'seek,' 'continue,' 'target,' 'goal,' 'would,'
or their negative variations or similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not forward-looking.
Examples of forward-looking statements include, among others:
statements regarding the Group's near term and longer term future
capital requirements and ratios, level of ownership by the Irish
Government, LDRs, expected impairment charges, the level of the
Group's assets, the Group's financial position, future income,
business strategy, projected costs, margins, future payment of
dividends, the implementation of changes in respect of certain of
the Group's pension schemes, estimates of capital expenditures,
discussions with Irish, UK, European and other regulators, plans
and objectives for future operations, and the impact of the
COVID-19 pandemic particularly on certain of the above issues and
generally on the global and domestic economies. Such
forward-looking statements are inherently subject to risks and
uncertainties, and hence actual results may differ materially from
those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, but are not limited to,
those as set out in the Risk Management Report in the Group's
Annual Report for the year ended 31 December 2021. Investors should
also read 'Principal Risks and Uncertainties' in the Group's Annual
Report for the year ended 31 December 2021 beginning on p 138.
Nothing in this announcement should be considered to be a
forecast of future profitability, dividend forecast or financial
position of the Group and none of the information in this
announcement is or is intended to be a profit forecast, dividend
forecast, or profit estimate. Any forward-looking statement speaks
only as at the date it is made. The Group does not undertake to
release publicly any revision to these forward-looking statements
to reflect events, circumstances or unanticipated events occurring
after the date hereof.
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