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Almost all KBC branches have closed permanently

The closures will result in 75 people losing their jobs
The closures will result in 75 people losing their jobs

KBC Bank Ireland has permanently closed all bar one of its remaining branches or hubs around the country.

The move is part of the bank's wind down of operations ahead of its exit from the Irish market.

Eleven hubs in Galway, Limerick, Cork, Waterford, Kildare and Dublin closed at 5pm, six months after notice was given that were to shut.

Just one, at Grand Canal in Dublin, will stay open until the end of August to support a small number of customers who may still want to attend a hub in person.

The closures will result in 75 people losing their jobs.

"I would like to take this opportunity to express my sincere gratitude to all departing KBC Bank Ireland Hub employees who, over the past 10 years, have provided exemplary service to our customers in communities around Ireland," said Frank Jansen, CEO of KBC Bank Ireland.

KBC said it will continue to support and service customers through its contact centre as it progresses through its wind-down plan over the next number of months.

Last month KBC completed the sale of the bulk of its assets to Bank of Ireland, including €7.8 billion of loans and €1.8 billion of deposits.

The development meant the legal ownership of accounts has already moved to Bank of Ireland and since then the transfer of day-to-day servicing of 150,000 customers has also been completed.

A number of KBC staff are transferring to Bank of Ireland as part of the deal.

However, the KBC hubs were not included in the transaction and will therefore close.

Last May, as it began current account closure process, KBC Bank Ireland estimated that 52,000 of its 130,000 current account holders would need to open a new account or move to a new provider.

The bank said that today that figure is down 61% to approximately 20,000.

"KBC has commenced the account closure process," the bank said.

"This process is ongoing and will accelerate in the coming months as more notice periods begin to expire, continuing into the third quarter of 2023."

It added that if customers are having difficulty moving their current account, it may be able to extend their notice.

"If customers are having difficulties or require additional support to move their accounts, they should contact KBC’s dedicated Care Team who can support vulnerable customers through the current account closure process," the bank said.