KBC Ireland identified an additional 661 customers who were either wrongly moved from or denied tracker mortgages last year, bring the total number to 3,737.
The bank provided an update after the release of its 2018 financial results yesterday, which showed that it made a net profit of €162 million last year, down from €183 million in 2017.
Total compensation and redress for customers affected by the tracker mortgage investigation would not exceed the €120 million provision it has made, KBC said.
Wim Verbraeken, chief executive, said that the tracker mortgage examination was a “top priority”. “We do not anticipate that further accounts will be identified and we continue our work to close a chapter on what has been a distressing experience for customers affected