Fear as AIB lines up loan sale to vultures

Move would improve bank’s standing in the eyes of potential investors

11th September, 2016
AIB head offices in Ballsbridge Pic: RollingNews.ie

State-owned AIB is examining plans to sell off a portion of its €1.8 billion book of non-performing loans secured on thousands of investment properties around the country.

The plan, which market sources said had been given the internal code-name Project Cyprus, could represent a key element of the lender’s efforts to clean up its balance sheet in advance of its long-delayed re-privatisation.

While it is understood the bank has made no final decision...

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