Account closures at Ulster and KBC Bank gather pace

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Account closures at Ulster and KBC Bank gather pace
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Account closures at Ulster and KBC Bank gather pace via IrishTimesBiz

Of the 316,804 Ulster Bank and KBC Bank current accounts that remained open at the end of last month, the Central Bank said that 129,832 were deemed by the banks to be the customer’s ‘primary’ account.

Meanwhile, more than one million current and deposit accounts were opened across the three largest remaining retail banks — Bank of Ireland, AIB and Permanent TSB — since the beginning of 2022, the figures reveal.The Central Bank said that in the five weeks to the end of January, a total of 78,604 accounts were opened, an increase of 40 per cent when compared with the five weeks to the end of December.

Earlier this week, Permanent TSB announced that it had completed its acquisition of Ulster Bank’s micro-SME performing loan book as part of a broader transaction that includes the transfer of a €5.2 billion portfolio of non-tracker mortgages.

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