Banking shares suffer over Bank of Scotland plans for branch network
Irish Life & Permanent, the owner of permanent tsb, lost 3.5% as investors feared it was one of the banks with most to lose from Bank of Scotland’s plans. Bank of Ireland fell almost 2%, while AIB shares ended 1% lower.
Bank of Scotland (Ireland) chief executive Mark Duffy said yesterday’s announcement showed why the bank had chosen not to bid for National Irish Bank (NIB) and its sister bank Northern, which were taken over by Danish bank Danske late last year for 1.4 billion.
