Leading Irish lender Bank of Ireland is poised to close half of its UK branches in a bid to scale back its operations in Britain, Irish broadcaster RTE has reported.
According to a report on RTE’s news website, Bank of Ireland is to close 10 of its 21 branches in the UK, the majority of which are concentrated in London. The leading Irish lender has apparently set up a voluntary redundancy program for its 141 UK employees.
RTE reports that the closures are a result of a strategic shift by the bank towards its business customers in its most successful locations. While eight London-located outlets will be closed, the lender intends to refocus its efforts on its branches in Manchester and Leeds.
However, according to the RTE report, a Bank of Ireland spokesperson played down the significance of the downscaling, suggesting that its key face-to-face customer liaising policy would not be affected.