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Total Irish loan portfolio sales to reach €18bn by end of 2014

1 July 2013

Loan portfolio sales in Ireland could reach €18bn by the end of 2014, according to Deloitte.

Debt sales in Ireland will likely increase to €5bn and €7bn in 2013 and 2014 respectively as banks deleverage their balance sheets or seek to leave the market. This comes on top of sales to date of €6bn.

David Edmonds, global head of portfolio lead advisory services at Deloitte, said:

“There has been significant activity in the Irish loan portfolio market over the past 18 months.  Many international banks no longer consider Ireland as a core market and the domestic banks continue to work through their non-core assets. Both these factors point to an increase in sales of loan assets as they accelerate the long process of balance sheet reduction.

“Loan portfolio M&A activity by 2012 reached €6bn of gross loan sales and this figure is only set to rise. Investors’ interest in the market is strong as they seek to deploy the significant capital that they have raised for European distressed asset opportunities. A recovering Irish economy and stabilising real estate market offers an attractive proposition for buyers.”

End

Notes to editors:

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

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David Gwyer
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Deloitte LLP
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dgwyer@deloitte.co.uk

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