What does Brian Lucey mean by "Selling Anglo's Deposits"?

[shanegl]

Just a reminder that FillYerBoots and his blind followers were talking out of their collective hoops:

Anglo to sell most of deposit book to AIB

ANGLO Irish Bank is to sell most of its deposit book to Allied Irish Banks in a further move by the Government to wind down the institutions.

www.irishexaminer.com

 

[NoRegretsCoyote]

Joe Brennan is Ireland's best financial journalist but even he talks about selling deposits here:

Belgian financial services giant KBC Group is poised to release about €1 billion of expensive capital tied up in its Irish operation as it sells its loans and deposits to exit the market, according to an analysis by a European brokerage.
.........
Mr Kluis said he expected the planned sale of KBC’s almost €9 billion of performing loans and €5 billion of deposits to [broken link removed], as well as the disposal of €1.4 billion of non-performing loans, to be completed in the first half of next year.

How does this get published?

 

[Brendan Burgess]

Because there is nothing wrong with it!

It's very clear that they are selling the net value to Bank of Ireland.

They are not selling it for €14 billion. They are selling it for €4 billion.

Brendan