Lloyds Said Planning to Sell $2.5 Billion of Mainly Irish Loans

Lloyds Banking Group Plc plans to sell about 2 billion euros ($2.5 billion) of mainly Irish real-estate loans, the latest phase in extricating itself from Western Europe’s biggest property crash, according to a person with knowledge of the transaction.

The U.K.’s second-biggest government-aided bank will probably have to take discounts on the sale, said the person, who declined to be identified because details of the sale are private. Ian Kitts, a Lloyds spokesman, declined to comment.