Bank of Scotland boosts Irish business

BANK Of Scotland is to beef up its retail presence in Ireland by expanding its successful mortgage business and moving into credit cards and retail deposits.

The bank said yesterday that it would create up to 150 new jobs and launch a series of retail banking products over the next 12 months to complement its existing business banking operation here.

Bank of Scotland (Ireland) chief executive Mark Duffy said the bank had always intended to expand into retail banking "when the conditions were right". He said the bank's application to become a member of the Irish money transmission system, coupled with a new industry code of practice to make it easier for customers to move between banks, meant these conditions had now been achieved.