Lloyds: sells Irish residential mortgage arm to Barclays
(CercleFinance.com) - British lender Lloyds Banking has agreed to sell its Irish residential mortgage portfolio to fellow British bank Barclays for around 4 billion pounds (approximately 4.
5 billion euros).
On sale, the deal will generate a pre-tax loss of about 110 million pounds, which will be booked in its H1 results, Lloyds said.
The transaction, will will be completed in the second half of 2018, will generate approximately 25 basis points of CET1 capital upon completion, the bank added.
The sale is in line with the group's strategy of becoming a low-risk, UK focused bank, Lloyds said.
The proceeds will be used for general corporate purposes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 billion euros).
On sale, the deal will generate a pre-tax loss of about 110 million pounds, which will be booked in its H1 results, Lloyds said.
The transaction, will will be completed in the second half of 2018, will generate approximately 25 basis points of CET1 capital upon completion, the bank added.
The sale is in line with the group's strategy of becoming a low-risk, UK focused bank, Lloyds said.
The proceeds will be used for general corporate purposes.
Copyright (c) 2018 CercleFinance.com. All rights reserved.