Bank of Ireland prepares to sell off bad loans
Cost-cutting drive driven by new Central Bank regulations
Bank of Ireland is ramping up its preparations for a loan sale of toxic debt worth hundreds of millions of euro.
The pillar lender has begun engaging with potential advisers for the project, which will focus on non-performing loans secured on investment properties rather than family homes.
Bank of Ireland had resisted the temptation to sell bad loans into the market for several years, preferring instead to manage the problem internally, even as competitors sold...
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