BoI puts Remnant media deal to bed

THE controversy surrounding Bank of Ireland’s funding of a publisher of pornographic magazines was finally put to bed yesterday when the bank confirmed it had transferred its €7 million loan to Remnant Media to another bank.

The bank is also reviewing its ethical guidelines to avoid further controversy in future.

Chairman Laurence Crowley said the bank had followed through on its commitment to exit the Remnant transaction after criticism from religious and community groups.