Saturday 21 September 2019

AIB to sell portfolio of bad loans worth €1bn at face value

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Gavin McLoughlin

Gavin McLoughlin

AIB is planning to sell a portfolio of bad loans worth €1bn at face value, according to Bloomberg.

The portfolio will include buy-to-let and business loans, and is expected to be sold by the end of June 2019, the report said.

Banks here are under pressure to reduce the amount of bad loans on their books.

AIB said its “key priority” was to do restructuring deals with customers on a case-by-case basis but added that loan sales were part of its overall plan for reducing bad loans.

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