The Belgian financial group KBC has concluded an agreement with ULSTER BANK to take over the Irish bank's capital management activities. The KBC will acquire UBIM - ULSTER BANK INVESTMENT MANAGERS for 105 million euro, entity that will then be integrated in the international division of KBC ASSET MANAGEMENT. UBIM is the Ireland's fourth largest funds management company with a volume of capital in portfolios of 8 bn euro on 31 March 2000 for a workforce of 72.