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On 8 January 2009, the Bank of Ireland announced to the stock market that it would close its Solihull and Reading processing centres (the Reading Centre processed Bank of Ireland mortgages only) and, as of 9 January 2009, Bristol & West mortgages would cease accepting new customers, though the brand would continue for existing mortgage ...
Bank of Scotland (Ireland) Danske Bank; First Active; ICS Building Society (previously Irish Civil Service Building Society) – investment shares acquired in 1984 by Governor and Company of the Bank of Ireland as well as society savers but ran separately for a period until a legislative change after the 1987 General Election.
The first loans, provided by Bank of Ireland, launched in 2004. [9] Post Office branded credit cards have also been introduced. Accounts opened before July 2019 were provided by Bank of Ireland UK and subsequently transferred to JaJa Finance [10] and accounts opened after November 2019 are now provided by Capital One. [11]
In 1922, Bank of Ireland was appointed as banker to the Government of Ireland. [10] In 1926, Bank of Ireland took control of the National Land Bank. [6] [11] In 1948, The Bank of Ireland 1783–1946 by F.G. Hall was published jointly by Hodges Figgis (Dublin) and Blackwell's (Oxford). [12] In 1958, the bank took over the Hibernian Bank Limited. [6]
The government assumed control of the bank's £50 billion mortgage and loan portfolio, while its deposit and branch network were sold to Spain's Banco Santander. [ 17 ] In October 2008, the Australian government made A$4 billion available to nonbank lenders unable to issue new loans.
As of September 2011, Central Bank figures show that 8.1% of private residential mortgage accounts are in arrears for more than 90 days – up from 7.2% at the end of June 2011. [ 77 ] As of August 2012, more than 22% of Irish mortgages are in arrears or have been restructured.
In 1999, it was purchased by the Governor and Company of the Bank of Scotland. [3] Later, the parent company established its own brand in the Irish market through the direct sales of mortgages from Edinburgh. Following this, it was decided to rebrand the existing Irish operation as Bank of Scotland (Ireland) in 2000.
The "good bank" was Northern Rock plc, which was responsible for holding and servicing all pre-existing customer savings accounts and some pre-existing mortgage accounts. Northern Rock plc received additional capital of £1.4 billion of equity from the UK government. The strategy was to prepare the bank for sale into the private sector.