AIB sells €400m in non-performing loans to Everyday

AIB says the deal is an important milestone in reducing its non-performing exposures to below 5%

The loan portfolio incurred a loss before tax and post-provisions of €46m last year.

AIB has agreed to sell a non-performing loan portfolio in long-term default to Everyday Finance

The portfolio includes loans with an average time in default of nine years. AIB said the deal substantially resolves their legacy, long-term default loans and would reduce its non-performing exposures (NPE) from 4.4% to 3% by the end of 2023.