Bank of Ireland to buy €274m in Danske Bank loans

Bank of Ireland has agreed to buy €274m of performing commercial loans from Danske Bank as part of the Danish lender’s move to wind down its Irish operations.

Danske Bank has agreed to sell a €540m commercial loan portfolio, with Goldman Sachs agreeing to buy the remaining €266m of loans. Goldman Sachs will work with asset-management firm Pepper Asset Servicing to service the portfolio on its behalf.

The move represents Bank of Ireland’s second loanbook purchase in three months following on from the €253m IBRC residential loan book bought in December.