Bank of Ireland has confirmed that it has appointed a property consultant in the UK to conduct what it calls a 'routine' examination of its property portfolio there.
A report in the Daily Telegraph this morning quoted sources as saying that the bank was expected to outsource its entire £120m UK property portfolio, in a move which would include a sale-and-leaseback of all the properties to one outsourcing company.
But a BoI spokesman said its action did not imply that a widespread sale and leaseback was on the cards.
