Belfast Telegraph

Wednesday 30 July 2014

40. Bank of Ireland

Regional manager: Pat Byrne

Employment: 1,100

Turnover: n/a

Pre-tax profit: n/a

Bank of Ireland has 44 branches and nine business centres in Northern Ireland, and employs 1,100 people in the province. In November it announced changes that will affect 270 jobs, with staff being offered voluntary redundancy or redeployment. Across the group it employs just over 15,500 people.

The bank, which was established in 1783, set up a new UK wholly-owned subsidiary in 2010, which is fully regulated and authorised by the Financial Services Authority. Most of its UK business, including Northern Ireland, was transferred to the subsidiary, which began trading in November.

In a trading statement last month, the bank said underlying profit for 2010 would fall by as much as 30%. A year earlier, the bank had a profit of €1.4bn (£1.2bn)..

Last year Bank of Ireland transferred €9.4bn (£8.1bn) in assets to the Republic’s bad bank the National Asset Management Agency (Nama), set up to cleanse the Irish banking system of toxic property loans.

Contact Us

1 Donegall Square South

Belfast

BT1 5LR

Tel: 028 9023 4334

www.bankofireland.co.uk

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