KBC Bank Ireland, which provides business and personal banking services to customers throughout Ireland, is planning to expand its mortgage business in 2014.
KBC Groep broker and intermediary division head, John Casey, was quoted by ValueWalk as saying that he expects the overall mortgage market to grow by around 1bn to as much as 3.5bn in 2014 and KBC is gearing up to take their slice of the cake.
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"Assuming a 10% share, KBC Groep NV will write more than 300m of new mortgages in 2014, compared with about 100m this year," Casey added.
With the growth of mortgage business, KBC Bank Ireland aims to compete with other major banks such as Allied Irish Banks and Bank of Ireland in the country.
KBC Bank Ireland spokesperson told the website that they expect an increase in new mortgage business in 2014 in line with their retail expansion program and continued recovery in the market.
"At KBC Groep NV, we expect the First Time Buyer and Mover segments to continue to be the main growth segments in 2014," the spokesperson added.
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