AIB’s bad loan blitz ahead of flotation

State-owned bank paves way for privatisation with loan purge

29th January, 2017

AIB is planning a major purge of a non-performing €1.8 billion loan book, triggering fears among borrowers that their loans may be offloaded to vulture funds in advance of the bank’s planned privatisation.

The bank is preparing to sell hundreds of investment properties as a first stage, with vulture fund Cerberus among the most likely buyers.

The state-owned lender has also launched a slew of court actions against debtors. It has lodged 64...

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