KBC Ireland has reported a loss of €55 million after tax and impairments for the second quarter of the year, after setting aside €95 million to deal with the impact of Covid-19.
In total, the KBC Group based in Belgium recorded a net loan loss impairment charge of €845 million, compared with a net charge of €121 million in the previous quarter and €36 million in the second quarter of 2019.
The bank said it has processed 6,400 payment breaks on mortgages and loans for personal and SME customers who have been impacted by the pandemic.
Peter Roebben, Chief Executive, KBC Bank Ireland said the impact of Covid-19 can be clearly seen in their results.
"In a few short months, the world changed suddenly for both our customers and society. We are in an extremely challenging economic environment and the material provision taken in our H1 Results reflects this," he said.
Mr Roebben said the bank's capital position remains "robust" and "meets all regulatory standards".
"Despite these challenges, we continue to grow our business and market share as consumers increasingly avail of mobile and digital banking and insurance services that are in step with people's real lives. Those seeking value and service continue to be attracted to KBC as we see our customer numbers grow for both our mortgage and current account product offering," he said.