The Governor and Company of the Bank of Ireland (BKIR.L,IRE) Monday reported agreeing to sell 0.59 billion euros worth of Project Finance loans to entities within the Sumitomo Mitsui Banking Corp., a subsidiary of Sumitomo Mitsui Financial Group Inc.(SMFG). The consideration is estimated to be around 85 percent of the total loan commitment, or about 84 percent of the amount drawn.
Proceeds from the transaction of around 0.47 billion euros may be used to repay debts to monetary authorities in accordance with the Bank's deleveraging plan. No impact is anticipated on the Core Tier 1 Ratio. Further, upon completion, the deal sees this year's deleveraging amount to around 1.55 billion euros.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.