Bosses seek to run wind-up of institution

SENIOR management at Bank of Scotland (Ireland) are believed to have applied to head-up the new company that will be set-up to run the bank’s €32 billion loan book following its pull out of Ireland.

Bosses seek to run wind-up of institution

Bank of Scotland (Ireland), which is owned by British-based Lloyds group, is to cease to operate as a licensed bank in Ireland at the end of the year.

It is transferring its business to its parent company on December 31 and will appoint a separate firm to wind down its Irish loan book, a process that will take around 10 years.

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