BoI to close branches of UK division

Bank of Ireland has announced the imminent closure of 36 branches at its Bristol & West mortgage division in the UK.

The move comes as part of the bank's restructuring programme in the UK, following the appointment of Roy Keenan as UK chief executive earlier this year.

Bank of Ireland's financial services division in Britain was created last year when the group merged its Bank of Ireland legacy businesses in Northern Ireland and Great Britain, Bristol & West, Chase de Vere Investments and MX Financial Solutions under a single management structure.

The bank could not confirm whether there would be any lay-offs as a result of the overhaul. Just under 4000 staff are employed in B&W.

After this round of closures its branch network will be reduced from 131 to 95.

Bank of Ireland said it had reserved €35m for the restructuring of its UK businesses.