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KBC Bank Ireland reports improvement in second quarter results

KBC Bank Ireland hopes to return to full-year profitability in 2016
KBC Bank Ireland hopes to return to full-year profitability in 2016

KBC Bank Ireland has reported profit after tax and impairment costs of €18m for the second quarter of 2015.

That compares to a loss of €34m in the same period last year.

It reported a 14% reduction in the number of mortgage arrears cases in first half of 2015 following a reduction of 15% in 2014.

The bank says it remains on track to return to full-year profitability by 2016.

Its parent company KBC Group, meanwhile, reported a net profit of €666m in the second quarter - almost double the amount reported in the same period of 2014 and up on the €510m profit reported in the first three months of this year.