Bank of Ireland(Governor&Co) Acquisition of Performing Commercial Loans (5537U)
July 30 2015 - 4:28AM
UK Regulatory
TIDMBKIR
RNS Number : 5537U
Bank of Ireland(Governor&Co)
30 July 2015
The Governor and Company of the Bank of Ireland ('Bank of
Ireland')
Acquisition of Performing Commercial Loan Portfolio
30 July 2015
___________________________________________________________________________
Bank of Ireland, together with Ennis Property Finance Limited,
an entity affiliated to Goldman Sachs and Feniton Property Finance
Limited, an entity affiliated to CarVal, have agreed terms to
acquire a commercial loan portfolio from Lloyds Banking Group plc.
As part of the transaction, Bank of Ireland will acquire a
portfolio of approximately EUR200 million performing commercial
loans, comprising over 650 customers in the SME and CRE sectors.
Ennis Property Finance Limited 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".
Ends.
For further information please contact:
Bank of Ireland
Andrew Keating, Group Chief Financial Officer +353 (0)766 23
5141
Mark Spain, Director of Group Investor Relations +353 (0)766 23
4850
Pat Farrell, Head of Group Communications +353 (0)766 23
4770
Forward Looking Statement
This document contains certain forward-looking statements within
the meaning of Section 21E of the US Securities Exchange Act of
1934 and Section 27A of the US Securities Act of 1933 with respect
to certain of the Bank of Ireland Group's (the 'Group') plans and
its current goals and expectations relating to its future financial
condition and performance and the markets in which it operates.
These forward-looking statements often can be identified by the
fact that they do not relate only to historical or current facts.
Generally, but not always, words such as 'may,' 'could,' 'should,'
'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'assume,'
'believe, ' 'plan,' 'seek,' 'continue,' 'target,' 'goal', 'would,'
or their negative variations or similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not forward looking. Examples of forward-looking
statements include among others, statements regarding the Group's
financial position, future income, business strategy and plans and
objectives for future operations.
Such forward-looking statements are inherently subject to risks
and uncertainties, and hence actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, but are not limited to, the
following: concerns on sovereign debt and financial uncertainties
in the EU and in member countries such as Greece and the potential
effects of those uncertainties on the Group; general and sector
specific economic conditions in Ireland, the United Kingdom and the
other markets in which the Group operates; the ability of the Group
to generate additional liquidity and capital as required; the
impact on lending and other activity arising from emerging macro
prudential policies; the performance and volatility of
international capital markets; the impact of downgrades in the
Group's or the Irish Government's credit ratings or outlook; the
stability of the eurozone; changes in the Irish and United Kingdom
banking systems; changes in applicable laws, regulations and taxes
in jurisdictions in which the Group operates particularly banking
regulation by the Irish and United Kingdom Governments together
with the operation of the Single Supervisory Mechanism and the
establishment of the Single Resolution Mechanism; the exercise by
regulators of powers of regulation and oversight in Ireland and the
United Kingdom; the introduction of new government policies or the
amendment of existing policies in Ireland or the United Kingdom;
the development and implementation of the Group's strategy,
including the Group's ability to achieve net interest margin
increases and cost targets; the Group's ability to address
weaknesses or failures in its internal processes and procedures
including information technology issues and equipment failures and
other operational risks; the impact of the continuing
implementation of significant regulatory developments such as Basel
III, Capital Requirements Directive (CRD) IV, Solvency II and the
Recovery and Resolution Directive.
Nothing in this document should be considered to be a forecast
of future profitability or financial position and none of the
information in this document is or is intended to be a profit
forecast or profit estimate. Any forward-looking statement speaks
only as at the date it is made. The Group does not undertake to
release publicly any revision to these forward-looking statements
to reflect events, circumstances or unanticipated events occurring
after the date hereof. The reader should however, consult any
additional disclosures that the Group has made or may make in
documents filed or submitted or may file or submit to the US
Securities and Exchange Commission.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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