Bank of Ireland acquires Lloyds loan portfolio
Bank of Ireland is set to acquire a commercial loan portfolio from Lloyds Banking Group.
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As part of the transaction, Bank of Ireland will acquire a portfolio of approximately €200million performing commercial loans, comprising over 650 customers in the SME and CRE sectors.
Ennis Property Finance Limited, an entity affiliated to Goldman Sachs, and Feniton Property Finance Limited will acquire the balance of the portfolio.
Mr Mark Cunningham, Director of Bank of Ireland Business Banking, commented:
“Bank of Ireland is pleased to have been able to avail of this opportunity to demonstrate our ongoing focus on further growing and developing our strong position in serving the business banking sector in Ireland. We look forward to welcoming these new customers to Bank of Ireland and working with them as they seek to develop and grow their own businesses and enterprises.”
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