April 1, 2019 / 6:42 AM / 4 months ago

Allied Irish Banks sells bad loan portfolio for 800 million euros

DUBLIN, April 1 (Reuters) - Allied Irish Banks said on Monday it had sold a non-performing loan portfolio for around 800 million euros ($898.80 million).

The loans, which had a gross non-performing exposure value of 1 billion euros, were sold to Everyday Finance DAC as part of a consortium arrangement with Everyday and affiliates of Cerberus Capital Management, AIB said.

AIB said it was on track to reduce its stock of so-called non-performing exposures to 5 percent by the end of the year. ($1 = 0.8901 euros) (Reporting by Conor Humphries, editing by Louise Heavens)

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