Suncorp will take another six to 12 months to complete the run-off of loans in its non-core banking portfolio, following the sale of A$1.6 billion of the portfolio to Goldman Sachs Group.In May, Suncorp had $2.8 billion of loans in its non-core portfolio. In addition to its sale to Goldman Sachs, it expects to achieve run-offs and individual loan sales worth a total of $700 million over the next two months.The balance of $500 million is made up of 130 loans, which will be absorbed back into the bank's overall lending portfolio. The majority are expected to be settled during the 2013/14 financial year.In 2009, in the wake of the global financial crisis, Suncorp Bank put $18 billion of impaired commercial and property loans into a run-off portfolio.The non-core bank has been a drag on Suncorp's banking earnings. While the core bank made a profit of $144 million in the December half, the non-core bank lost $140 million.The $1.6 billion of loans in the Goldman Sachs deal were sold at a "weighted realisation" of 60 cents in the dollar. The portfolio includes $300 million of loans that are not impaired.Suncorp Bank's chief executive, David Foster, said the sale to Goldman Sachs did not include the whole of the portfolio because the loans were not homogeneous and could not all be sold together.Foster said that as a result of the latest move to resolve the portfolio, the non-core bank would incur an after-tax loss of between $470 million and $490 million in the June half-year. The loss reflects the gap between current provisioning on the loans and the sale price. Suncorp chief executive Patrick Snowball said the management of the non-core bank had been a major distraction and he was pleased to have it resolved "once and for all". Foster said: "We looked at continuing the run-off but our view was that there is residual risk. Market conditions are volatile. The sale removes a risk and a distraction."Fitch Ratings issued a statement yesterday, saying the asset sale would have no impact on the bank's ratings.The Australian Financial Review reported that the underbidders for the $1.6 billion portfolio were Macquarie Group and Blackstone.