UP TO €25 billion worth of loans will be removed from the banks through repayments over the next three years, the Department of Finance official in charge of restructuring the banking sector has said.
Addressing an international banking conference, John Moran said this would form part of the €72 billion deleveraging of the banks. The lenders would still be able to lend €10 billion a year into the economy and still shrink the size of their businesses, he said.
...The banks will split into core divisions, lending into Ireland, and a non-core divisions, which will be sold off or run down over time.