Bank of Scotland to shake up market

David Clerkin

The bank, which until now had confined its Irish operation to business banking and a phone-based mortgage outfit, swooped on its Irish rivals with a revolutionary move to take over the ESB’s chain of ShopElectric retail outlets and turn it into a branch network.

Bank of Scotland (Ireland) chief executive Mark Duffy said the move would be “fantastic” for consumers and would allow the bank to aggressively roll out customer-friendly products. “We really do see it as a win-win deal,” said Mr Duffy, who said the bank, the ESB and the staff involved would all benefit.