Bank considers establishing separate operation in Britain

BANK of Ireland has plans to established a separate banking operation in Britain that would be regulated by the British Financial Services Authority and have its own independent board.

Bank of Ireland, the seventh largest bank in Britain, is understood to be in talks with the British Financial Services Authority about the business which could be operational by the middle of the year.

It already holds a joint venture with the British Post Office and last month the Government outlined details of plans to create a Post Office Bank offering financial services locally.