Bank of Ireland is planning to buy much of KBC’s Irish operations. Bank of Ireland has entered into a memorandum of understanding to acquire KBC’s performing loans, and its deposits. Not included in the deal is KBC’s non-performing loans.  Investors are happy: Bank of Ireland shares are up five per cent as I type; AIB is up five per cent and PTSB is up four per cent. Why is AIB and PTSB up? Perhaps this deal is taken as a signal that more mergers are on the cards, and the Central Bank is happy to allow them proceed. It’s notable…

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