View more on these topics

BoI sells B&W branches for £150m

Bank of Ireland has completed the sale of its Bristol & West branch network and associated deposit book to Britannia for £150m.

Details of the sale were first announced on May 24.

The profit on disposal of the branch network is expected to be approximately £120m after tax and will be reflected in the interim results for the half year ending September 30.

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.

Roy Keenan, chief executive of Bank of Ireland’s UK financial services, says: “The UK division is now focussed 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 oper- ation, which gives us access to Europe’s largest financial retail network.”

Recommended

Revaluation postponed

The government has postponed a Council Tax homes revaluation in England until 2007. David Miliband, minister of communities and local government, says: “We need a clear and complete picture of what we want local government to do before we tackle how it will be funded.”

Shaun Godfrey to leave Bankhall

Shaun Godfrey, commercial director at Bankhall will leave the company in October to pursue other business interests, full details of which will be announced in due course.Peter Mann, chief executive at Bankhall, says: “Shaun has played a key role in the growth and development of the Group over the last nine years. “He has been […]

SPPL appoints Shannon Brown

Southern Pacific Personal Loans, the sister company to Southern Pacific Mortgage Limited that specialises in secured second charge loans, has appointed Shannon Brown as account manager for the North-West region. Brown is CeMap and FPC qualified and joins SPPL from Principality Building Society where she was an account manager covering the North West. Prior to […]

N&P reduces fixed rates

Norwich and Peterborough says it is reducing rates on its UK and Spanish fixed rate mortgages, with immediate effect. Fixed rate schemes over two years will be reduced from 4.78% to 4.68% (maximum 90% LTV and 699 reservation fee), from 4.98% to 4.84% (maximum 90% LTV and 385 reservation fee) and from 5.34% to 5.24% […]

Newsletter

News and expert analysis straight to your inbox

Sign up