Bank of Scotland (Ireland) BOSI is to shut down.
The bank, which earlier this year shut all it’s Halifax branches in Ireland, is a division of UK finance giant Lloyds .
In a statement, the Lloyds Banking Group said there was little opportunity for Bank of Scotland (Ireland) (BoSI) to enjoy scalable growth in the future – and business would be transferred to Bank of Scotland
It is understood 830 staff are still employed by BoSI in its St Stephen’s Green head office in Dublin and in regional offices in Belfast, Cork, Galway, Limerick and Waterford.
The bank plans to retain the majority of existing staff by transferring employees to an independent company to oversee administration of its remaining Irish business.
BOSI’s other business operations in the Irish Republic, an insurance operation in Shannon, and the Halifax branch network and customer service centre in Northern Ireland are unaffected.