• Text size      
  • Send this article to a friend
  • Print this article

Lloyds signs off disposal of £149m of real estate loans

Lloyds Banking Group has agreed the sale of a portfolio of Irish commercial real estate loans for £149 million to Risali Limited, an entity affiliated with New York-based Apollo Global Management investment business.

Lloyds said: "The [sale] is not expected to have a material impact on the group due to the significant impairment provisions held against the portfolio, which are higher than the average across the Irish wholesale book because of the particularly distressed nature of these assets."

It added: "The portfolio generated losses of £202m in the year to December 31, 2011. The gross assets subject to the transaction are £1,466m. This transaction is in line with the group's strategy of de-risking its balance sheet and reducing its non-core assets."

Contextual targeting label: 
Finance

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

126478