BoI sell Bristol & West network

Bank of Ireland has announced that its Bristol & West network has been sold to Britannia Building Society £150m (€218m).

Bank of Ireland has retained the Bristol & West mortgage business which will remain one of Bank of Ireland’s three strategic priorities for growth in the UK.

Brian Goggin, Group Chief Executive, Bank of Ireland, said: "This deal has realised good value for Bank of Ireland shareholders, and is also a very positive outcome for our customers and our employees.

"Bank of Ireland remains committed to the UK market, which accounts for a significant element of the Group’s interests, and will remain a core market for the Group."

Roy Keenan, Chief Executive of Bank of Ireland UK Financial Services added: "The UK Division is now focused on growing our three key areas of operation: the successful Bristol & West and Bank of Ireland Mortgage business; our growing Business Banking operation; and the Post Office Financial Services operation in the UK, which gives us access to Europe’s largest financial retail network."