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

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

 
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?
 
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
 
Back
Top