Thursday February 20, 2020

Ulster Bank to sell up to €6bn in SME loans to vultures in weeks

Future of hundreds of small businesses and farmers hangs in the balance

6th March, 2016
Ulster Bank Group head offices on George's Quay in Dublin. Pic:RollingNews.ie

The future of hundreds of small businesses and farmers is hanging in the balance as Ulster Bank prepares the ground for a multibillion euro loan sale.

The RBS-owned lender confirmed that it is eyeing the sale of a book of toxic debts connected to hundreds of borrowers and worth billions of euro. Market sources said that the face value of the loans could be as high as €6 billion, representing the bulk of the lender’s...

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