Ulster Bank offloads 5,000 home loans to Cerberus
The bank has agreed to sell a €1.4 billion portfolio to the US investment fund
Ulster Bank has sold more than 5,000 home and buy-to-let loans to a vulture fund in the latest distressed portfolio sale.
The bank has agreed to sell a €1.4 billion portfolio to the US investment fund Cerberus, bringing to more than €5 billion the amount ofIrish loans that have changed hands in just over two weeks.
The so-calledProject Scariff being offloaded by Ulster Bank, however, does not contain any performing loans or any ...
