2019-12-16T08:43:00
Source: ValK/Creative Commons
OakNorth Bank has suffered its first two defaults on property-backed loans and is seeking to offload a portion of its larger deals to reduce risk, according to The Sunday Times.
The two defaults are understood to represent less than 1% of the bank’s £3bn net lending and have not yet led to credit losses, the newspaper said. The defaults are the first since it began lending in 2015.
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