trending Market Intelligence /marketintelligence/en/news-insights/trending/oCRDwUSC95p3K1IulK-buQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Ulster Bank sells €2.5B Project Oyster NPL portfolio to Cerberus

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Ulster Bank sells €2.5B Project Oyster NPL portfolio to Cerberus

Royal Bank ofScotland Group Plc unit Ulster Bank Ireland DAC sold a nonperforming with a face valueof €2.5 billion to CerberusCapital Management LP, TheIrish Times reported Oct. 10, citing the bank.

The portfolio, known as Project Oyster, mainly constitutesbusiness loans, with 19% relating to landlords' buy-to-let mortgages and 10%owner-occupied, the paper said. It is not clear how much Cerberus,a U.S. private equity firm, paid for the portfolio.

The Ulster Bank business comprises Ulster Bank Ireland inthe Republic of Ireland and Ulster Bank Ltd. in Northern Ireland.