Union worried by Bank of Ireland changes

BANK of Ireland's new focus on selling-off non-core businesses and developing a sustainable lower cost base is not a prelude to relocating work to low-cost countries like India, the bank said last night.

The sell-off, in the past two weeks, of the company's share in EuroConex and the motor insurance segment of Premier Direct Insurance has raised flags at the bank workers' union.

Irish Bank Officials Association (IBOA) chief executive Larry Broderick has sought an urgent meeting with BoI chief executive Michael Soden to discuss what the union perceives as a significant and worrying change in policy.