How BoSi paid a heavy price for its Irish property gambles
Bank of Scotland (Ireland)’s decision to immerse itself in the booming Irish property market proved to be an inauspicious move, writes Richard Curran
With so much attention on the struggle to deal with the consequences of excessive lending in the Irish state-guaranteed banks, it is easy to forget just how badly a lender such as Bank of Scotland (Ireland) (BoSi) did in the Irish market.
As a newly-established company called Certus takes up the job of managing BoSi’s commercial loan portfolio, a fuller picture of the extent of property lending during the boom years is emerging.
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