Bank of Ireland invests extra €34m in customer supports amid increased demand

The move comes days after the Central Bank said lenders' inadequate support was contributing to rising short-term mortgage arrears levels

Bank of Ireland said it now receives more than 11,000 customer calls a day. Picture: Julien Behal/PA

Bank of Ireland announced it will invest an additional €34m in customer service improvements amid increased demand following the exit of rival lenders.

The departure of Ulster Bank and KBC from the retail banking market in the Republic led to other lenders absorbing an influx of customers and Bank of Ireland said it now receives more than 11,000 customer calls a day, prompting it to announce “the largest single investment” into its technology used by staff in branches and contact centres.