Bank of Ireland to Wind Down Corporate Lending in Great Britain

Bank of Ireland Group Plc is to wind down its corporate lending arm in Great Britain, citing a range of reasons, including the ability to generate long-term sustainable returns there.

The decision will impact approximately 40 employees based in London and Manchester, according to a statement from the lender on Wednesday, after the Irish Times reported the news. The wider UK business will not be affected, the statement added.

A phased wind down of the existing book has been proposed, in line with its maturity profile, which could take up to 36 months to complete, according to the bank.

The ...