Bank of America linked to purchase of €2bn IBRC loan portfolio
The US bank has bought at least €7.3bn of loans since late 2011. It has held on to some of the assets in a strategic move to deepen client relationships and sold the remaining loans at a profit to end investors.
The bank has been on a buying spree to deploy over $100bn (€77.3bn) of surplus capital that it has raised since Lehman Brothers collapsed in Sept 2008 and has profited from European banks’ need to sell large portfolios quickly.
