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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

'Public health consultants breathed a huge sigh of relief when mandatory hotel quarantine came in'

Neale Richmond: Events in Scotland could have a profound effect in Ireland

Comment: Undermining patent incentive could deprive world of important medicines in the future

Legal Jonathan Newman 2 days ago

Housing crisis is coming home to roost for the government parties

Housing Elaine Byrne 4 days ago