Bank of Ireland

The Bank of Ireland {{ise|BKIR_p}} {{lse|BKIR}} {{nyse|IRE}}, officially known as the Governor and Company of the Bank of Ireland is a commercial bank operation on the island of Ireland, one of the 'Big Four'. The bank was formed by an Act of the Irish Parliament in 1782 to support public and commercial finances in Ireland. The headquarters of the bank until the 1970s was the impressive, Bank of Ireland building in Dublin. This building hosted the Irish Parliament before the Act of Union 1800. Today visitors can still view the impressive Irish House of Lords chamber within the building. The banks headquarters is now a modern building in Baggot Street, Dublin, but the Bank of Ireland in College Green remains a working branch.

Related Topics:
Bank - Ireland - Big Four - Irish Parliament - 1782 - Bank of Ireland building - Dublin - Act of Union 1800 - Irish House of Lords

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In 1958, the Bank took over the Hibernian Bank Limited and in 1965 the National Bank of Ireland Limited, and rebranded them as Bank of Ireland.

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Today the bank is based throughout the Republic of Ireland and the United Kingdom, it offers the Laser payment system. In Northern Ireland, the bank prints its own banknotes in Pound Sterling. In Britain, the bank expanded largely through the takeover of the Bristol and West Building Society in 1996.

Related Topics:
United Kingdom - Laser - Northern Ireland - Pound Sterling - Britain

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From the foundation of the Irish Free State until December 31 1971, the Bank of Ireland was the banker of the Irish Government, but not the central bank. The central bank was only formed twenty years after the Irish Free State and is called the Central Bank of Ireland.

Related Topics:
Irish Free State - December 31 - 1971 - Irish Government - Central bank - Central Bank of Ireland

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On 20 March 2005, Bank of Ireland announced 2,000 job cuts in a move to reduce its cost base.

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The Group's headquarters are in Dublin, and its operations extend geographically throughout Ireland and Britain.

Related Topics:
Dublin - Ireland

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The Group provides a broad range of financial services in Ireland to the personal, commercial, industrial and agricultural sectors. These include checking and deposit services, overdrafts, term loans, mortgages, international asset financing, leasing, instalment credit, debt financing, foreign exchange facilities, interest and exchange rate hedging instruments, executor, trustee, stockbroking, life assurance and investment fund management, fund administration and custodial services and financial advisory services, including mergers and acquisitions and underwriting. With the acquisition of New Ireland Assurance in December 1997 the Group has access to additional distribution channels and products for its life assurance and pensions business. The group provides services in multiple currencies, but primarily Euro.

Related Topics:
Stockbroking - Life assurance - Euro

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The Group markets and sells its products on a domestic basis through the most extensive nationwide distribution network in Ireland and its direct telephone banking service. The Group has built a market share among credit institutions in Ireland of over 20% of resources and loans outstanding.

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In the United Kingdom the Group operates mainly through Bristol & West plc which was acquired in July 1997, and the Group's retail branch network. Bristol & West operates in selected markets and provides mortgages, savings and investments products to customers.

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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.

Related Topics:
Germany - Australia - Canada - Japan - United States

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