The Bank of Ireland
The Bank occupies a unique position in Irish banking history. At the core of the modern-day group, is the old Bank of Ireland; the ancient institution established by royal charter in 1783.
The Bank of Ireland was formed by an Act of the Irish Parliament in 1782 to support public and commercial finances in Ireland. The banks headquarters is now a modern building in Baggot Street, Dublin.
Although the bank is headquartered in Dublin, it has operations throughout the Republic of Ireland and the United Kingdom. In Great Britain, the bank expanded largely through the takeover of the Bristol and West Building Society in 1996.
The Bank of Ireland's Financial Solutions
- Personal banking
- Commercial banking
- Industrial banking
- Agricultural banking
- Checking and deposit services
- Overdrafts
- Term loans
- Mortgages
- Remortgages
- International asset financing
- Leasing
- Instalment credit
- Debt financing
- Foreign exchange facilities
- Interest and exchange rate hedging instruments
- Executor
- Trustee
- Stockbroking
- Life assurance
- Investment fund management
- Fund administration
- Custodial services
- Financial advisory services
The acquisition of New Ireland Assurance in December 1997 provided the Group with access to additional distribution channels and products for its life assurance and pensions business. The group provides services in multiple currencies, but primarily in the Euro.
Operations in the rest of the world are primarily undertaken by Bank of Ireland Asset Management, who provide fund management services to institutions and pension funds in Germany, Australia, Canada, Japan and the United States.
Bank of Irelands History
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19th December 1995 : Bank of Ireland merge First New Hampshire Bank with Royal Bank of Scotland's Citizens Financial Group
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16th April 1996 : Bank of Ireland buys the Bristol & West building society for €882m, which keeps its own brand.
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22nd May 1999 : It is announced Alliance & Leicester is in merger talks with the Bank of Ireland.
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17th June 1999 : It is announced that merger talks with Alliance & Leicester have been called off.
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31 July 2000 : It is announced that Bank of Ireland is to acquire Chase de Vere.
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17th May 2002 : Bank of Ireland acquires Iridian, the US investment manager, which doubles the size of its asset management business.
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21st September 2005 : Bank of Ireland completes the sale of the Bristol and West branch and Direct Savings (Contact Centre) to Britannia Building Society. This is the first re - mutualisation of a former Mutal company. Britannia promises that there will be no compulsory redundancies.