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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.