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GC Asia
BofI on track to meet deleveraging targets after €5bn loan portfolio divestment
Bank of Ireland has divested €5bn of non-core loans at a discount of around 9% without any adverse effect on its core tier one capital ratio. The sale of the assets puts the bank on track to meet the conditions of Ireland’s sovereign bail-out.
The group’s share price rose after the sale was announced last Friday. The divestment, part of a plan to sell off €10bn of loans and accept repayment of another €20bn by the end of 2013, involved US and UK commercial and residential mortgage loan books in the US
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