Ulster Bank has begun the process of disposing of its remaining portfolio of loans, made up in the main of non-performing exposures.
The move will be one of the final big steps taken by the bank as it exits the Republic of Ireland market.
The lender has declined to publicly put a value on the entire portfolio.
"As signalled since 2021, Ulster Bank can now confirm that it has prepared a residual portfolio of personal and commercial exposures for sale as part of our phased withdrawal from the Republic of Ireland," it said in a statement.
"This portfolio is majority non-performing but also contains some performing exposures not included in our other withdrawal transactions."
The Natwest owned lender said it made a very deliberate decision to leave this transaction until the latter stages of its withdrawal in order to engage with and support those in financial difficulty.
"As this commercial process is underway, Ulster Bank will make no further comment on the portfolio at this time," it said.
"We will continue to work with and support our customers throughout this time and will keep them informed of any relevant developments regarding their loan from this process."
It is understood that the portfolio is made up of a mixture of personal and commercial loans, but is unlikely to include performing offset mortgages which should be sold through a separate transaction.
No timeline has publicly been put on the completion of the sale process by the bank.
Ulster Bank has already sold its performing non-tracker residential mortgage business, comprised of loans worth €6.2 billion, to Permanent TSB.
It has also sold 25 branches to PTSB.
AIB has also bought Ulster Bank's €5.7 billion tracker mortgage book.
On Friday, Ulster Bank will close its remaining branches around the country permanently, ending its in-person relationship with customers.
