KBC Bank announces losses of £709m
KBC Bank Ireland has reported a loss of €864m (£709m) for last year. It added that the loss came after impairment costs of just over €1bn (£820m).
The Belgian bank is taking a "conservative approach" to impairment following an assessment of its loan book and added that there is a slow recovery in the SME sector. The bank is on track to return to profit in 2016, it said, as it expands its retail operations.