Lloyds is putting a £1 bn (EUR 1.1 bn) commercial property loan portfolio on the market, according to a news report in the Financial Times. JPMorgan Cazenove has been appointed to run the divestment process, which is said to be the first block sale to be executed by Lloyds. It involves loans secured against office, retail and industrial assets all outside of London.

The bank has close to £23.7 bn of troubled real estate loans.