Sunday 19 November 2017

AIB to be told tomorrow of NAMA transfers

joe brennan

ALLIED Irish Banks will receive notification tomorrow of the first risky property loans NAMA intends to take over from it.

Sources said the bank will be given a very tight turnaround to object to information and discounts set out on the so-called acquisition schedule.

NAMA is preparing to announce on Monday the 'haircuts' it has applied to the initial loans. These relate to the country's top 10 developers.

Anglo Irish Bank, the biggest participant, with half its €70bn-plus loan book bound for the 'bad bank', will not receive its acquisition schedule until next week, according to sources. Bank of Ireland, EBS and Irish Nationwide received theirs last week.

Irish Independent

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