KBC: closes sale of Irish loan portfolio to Goldman Sachs

(CercleFinance.com) - Belgium's KBC said on Monday that it has closed the sale of a portfolio of Irish loans worth 1.
9 billion euros to Goldman Sachs.

KBC Bank Ireland's portfolio - mainly consisting of non-performing assets, the financial group says - have been sold to units established and financed by Goldman Sachs (Beltany Property Finance DAC, Tramore Funding DAC and Banna Funding DAC), KBC said.

KBC said the closing of the transaction will have a positive impact on the group's profit and loss account and CET1 ratio, while reducing its non-performing loan ratio.

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