Lloyds in loan portfolio sale

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ref="http://www.cityam.com/company/lloyds-banking-group">LLOYDS Bank last night agreed the sale of a portfolio of its UK commercial property loans for £352m in cash to Promontoria Holding.

The property loans in the deal reported a loss of £17m during the year to 31 December. Lloyds said the proceeds of the sale would be used for general purposes and it does not expect the sale to have a material impact on the group.