Forty jobs at risk in bank’s latest retrenchment in increasingly profitable UK market
Bank of Ireland has decided to wind down its €2 billion-plus British corporate and commercial loan book, as it continues to restructure its offering in that market. Photograph: Cyril Byrnehas decided to wind down its €2 billion-plus British corporate and commercial loan book, affecting 40 jobs, as it continues to restructure its offering in that market.
The bank’s corporate lending business in Northern Ireland and its wider UK property and leverage acquisition finance activities are unaffected.‘I lost €1,000 in cash on the way to the bank to lodge it. Someone in Dún Laoghaire had a big win that day’“This decision is informed by a range of factors including, crucially, the ability to generate long-term sustainable returns,” said Mr Kelly in the email.
Bank of Ireland’s UK home loans focus in recent years has been on “bespoke” higher-return home loans offered through brokers. These include mortgages to the likes of professionals seeking larger-than-average loans and people looking to take equity out of their homes.
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