AIB sells €1 billion loan book to Cerberus
The portfolio includes 2,200 customers with 5,000 assets
AIB has offloaded a €1 billion portfolio of non-performing loans to a subsidiary of US vulture fund Cerberus, including hundreds of mortgages backed on family homes.
The bank said that it will receive about €800 million from Cerberus on the sale.
The portfolio includes 2,200 customers with 5,000 assets, which are mostly buy-to-let properties. However, the bank said that about 10 per cent of the portfolio includes loans linked to primary dwelling properties. ...
