Banking on the people’s support

THE British Post Office, with partner Bank of Ireland, took a further step along the road to becoming a neighbourhood bank this week with the announcement of a “major expansion” in the financial products it offers.

The institution, which is keen to cash-in on its reputation as a trusted brand following the banking crisis, plans to branch out into current accounts for the first time.

However, the fruitful partnership with Bank of Ireland could come to an end if the European Commission forces BoI chief executive Richie Boucher to sell off its British assets to gain approval for the transfer of billions of euro in impaired loans to the National Asset Management Agency.