BoI 'not vulnerable to takeover'

HOURS after Bank of Ireland said it was not vulnerable to a takeover, Barclays bank's Kerry-born chief executive Matthew Barrett said his bank is open to partnerships or mergers to keep pace with US competitors.

The governor of Bank of Ireland's court of directors, Laurence Crowley, told reporters at a banking conference in London that the bank is not vulnerable to takeovers.

"We don't feel under threat. We feel we have to meet the competition head on," said Mr Crowley. In fact, he said, the group's strategy would provide for bolt-on acquisitions.