LYG Lloyds Banking Group Plc

By Ian Walker

LONDON--Lloyds Banking Group PLC (LLOY.LN) said Thursday it is selling a portfolio of Irish commercial loans for 827 million pounds ($1.29 billion), which will be used for general corporate purposes.

The 15% U.K. government-owned bank said the sale won't have a material impact on the group, but will be capital accretive.

Lloyds is selling the portfolio, which has gross assets of about GBP2.6 billion, to a consortium comprising Ennis Property Finance Ltd., an entity affiliated to Goldman Sachs Group Inc (GS); Feniton Property Finance Ltd., an entity affiliated to CarVal; and Bank of Ireland.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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