Thursday 19 October 2017

Consortium of Bank of Ireland, Goldman and CarVal buys Irish loans from Lloyds

Goldman Sachs' New York HQ. The big banks are seeking new office space in Manhattan.
Goldman Sachs' New York HQ. The big banks are seeking new office space in Manhattan.
Peter Flanagan

Peter Flanagan

A consortium of Goldman Sach, Bank of Ireland, and US investment firm CarVal is to buy a portfolio of Irish loans from Lloyds for £827m.

In a statement this morning, Lloyds said the loans had a par value of £2.6bn, of which close to £2.3bn was impaired in some way.

The portfolio lost about £130m last year.

This is the latest Irish loan sale by Lloyds. The firm has been steadily reducing its Irish exposure since the crash. Goldman Sachs and CarVal meanwhile have bought several Irish assets in recent years.

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