December 20, 2017 / 3:40 PM / 6 months ago

BRIEF-KBC Bank Ireland Announces Additional Provision In Tracker Mortgage Examination

Dec 20 (Reuters) - KBC GROEP NV:

* KBC BANK IRELAND GIVES UPDATE REGARDING IMPACTED CUSTOMERS AND PROVISIONS IN TRACKER MORTGAGE EXAMINATION

* ALL KNOWN ISSUES REGARDING DISPUTED COHORTS OF CUSTOMERS WHO ARE IMPACTED HAVE BEEN RESOLVED

* AN ADDITIONAL PROVISION OF EUR 61.5 MILLION WILL BE MADE IN Q4 2017​

* ‍ON Q4 PROVIDION: TO ACCOUNT FOR REDRESS AND COMPENSATION PAYABLE TO RECENTLY IDENTIFIED IMPACTED ACCOUNTS​

* ‍ON Q4 PROVISION: TO ACCOUNT FOR REDRESS AND COMPENSATION PAYABLE TO RECENTLY IDENTIFIED IMPACTED ACCOUNTS​‍​

* PROVISION REGARDING ONGOING TRACKER EXAMINATION WILL BE FURTHER INCREASED TO A TOTAL OF EUR 120.3 MILLION,

* PAYMENT OF REDRESS AND COMPENSATION FOR CUSTOMERS IDENTIFIED MORE RECENTLY AS IMPACTED WILL START IN JAN

* PAYMENT OF REDRESS AND COMPENSATION FOR CUSTOMERS IDENTIFIED MORE RECENTLY AS IMPACTED WILL END OF JUNE 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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