Oireachtas Joint and Select Committees
Tuesday, 10 July 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters Relating to the Banking Sector: KBC Bank
2:00 pm
Mr. Wim Verbraeken:
Absolutely. If there is one thing financial institutions and markets do not like and with which they have a difficulty, it is an uncertainty of outcome. If there are a range of potential outcomes, banks typically have to prepare for the worst. I am not talking in generic terms or about KBC, but my opinion is that the uncertainty as to whether it will be a hard or a soft Brexit or whether there will be any deal is not good. It is does not augur well for the future. The sooner clarity can be brought around that, the better.