€173m year glanbia kbc bank ireland profits
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KBC Bank Ireland has reported profits of just over €173m for the first six months of the year - that's up €99.4 million on the same period last year.
That was after taxes and impairments.
Wim Verbraeken, CEO of KBC Bank Ireland, said the impaired loan stock at the bank had come down by more than 16% to just over €5 billion.
He confirmed that in about 95% of mortgage arrears cases, householders had been offered a solution.
"We plan to address the remaining cases. 19 out of 20 cases have been identified with a resolution option. We would call on customers who are non-engaged to engage with us so we can come up with a solution that works for everyone."
Mr Verbraeken said the bank hadn't yet concluded its review of its tracker mortgage book and he wouldn't comment on the extent of the problem at the bank.
"I'm not in a position to make a statement or to comment on the number of customers impacted. We have reached out to all customers not on the right rate and initiated steps to put that right," he said.
He wouldn't be drawn on whether any customers had lost their homes as a result of the tracker issue.
"Loss of a home has a multitude of factors influencing so it would be premature for me to comment on that."
Separately, global nutrition group Glanbia reported an 11.5% increase in total group revenue for the six months to the end of June to just below €2.05 billion.
When currency moves are factored in, revenue was just under 10% higher.
Glanbia generates a large amount of revenue in the US and the weakened dollar accounts for much of that move.
However, Siobhán Talbot, Group Managing Director at Glanbia, said the dollar was actually relatively strong until recently and it didn't have a massive impact on the first half results.
"We take out currency implications in our 'constant currency' results because it gives a better sense of the underlying performance. For the first half, that performance was up. We're in a position to reiterate guidance for growth of 7 to 10% for this year."
This was Glanbia Plc's first set of results since it disposed of 60% of its holding in its Dairy Ireland business to Glanbia Co-op last month.
Ms Talbot said Glanbia was now mainly focused on the nutrition and performance nutrition markets with products available in 130 countries worldwide.
She said the company wasn't immediately impacted by Brexit but, like any corporate, it was looking for certainty.
"We would like the transition period to be as long as possible and the period of uncertainty as reduced as it can be, but the direct implications on Glanbia would be relatively modest," she concluded.