Statement 19 August 2010
Tá an Ráiteas seo ar fáil as gaeilge chomh maith
Bank of Scotland (Ireland) Limited has informed the Central Bank and Financial Regulator that its shareholder, Lloyds Banking Group, has decided to exit the Irish market and as a result, Bank of Scotland (Ireland) will no longer offer banking activities in Ireland from the end of December 2010. Bank of Scotland (Ireland) has advised the Central Bank and Financial Regulator that it intends to cease operating as an Irish licensed bank by 31 December 2010 and the business of Bank of Scotland (Ireland) will be transferred to its parent Bank of Scotland (UK). This decision follows a commercial review of Bank of Scotland (Ireland) by Lloyds Banking Group following the closure of the Halifax retail banking business and the Bank of Scotland (Ireland) intermediary business.
Under the EU Cross Border Merger Regulations, the business of Bank of Scotland (Ireland) will transfer to Bank of Scotland (UK) which is licensed and regulated by the UK Financial Services Authority. Bank of Scotland (Ireland) must ensure that customers’ rights are protected and treat their customers honestly and fairly during the process and ensure that all relevant regulatory requirements are complied with.
Bank of Scotland (Ireland) has advised that it will begin writing to customers by the end of September 2010 to set out how the changes will affect them and to explain the next steps that they may need to take. The implications will vary depending on the type of account or product customers may hold and the Central Bank and Financial Regulator would recommend that customers read the details very carefully.
Customers with any concerns or questions about their accounts are advised to contact Bank of Scotland (Ireland) directly on 1890 818181 or at www.bankofscotland.ie.