Who owns bristol and west

Financial Times Close. Search the FT Search. Show more World link World. Show more US link US. Show more Companies link Companies. Show more Markets link Markets. Show more Opinion link Opinion. Members of the society as well as Bank of Ireland shareholders will have to approve the deal and a number of regulatory approvals are required. Bank of Ireland will not have to call on its shareholders to fund the acquisition, which will be the third biggest ever by an Irish company.

Bank of Ireland will fund the acquisitions out of its strong resources. Bank of Ireland expects the acquisition to be earnings enhancing. The move by Bank of Ireland is aimed at a diversifying its profits stream to reduce its dependence on the Irish market.

This will allow scope for cost reduction and will give BIM access to a cheaper source of funds. Bank of Ireland has been in the British market for more than 25 years. It has 27 branches and its mortgage operation, which is based in Reading. See a sample. The closure could result in the loss of up to jobs in Reading and Solihull, although the company's owner, Bank of Ireland, said yesterday that it would do everything it could to mitigate redundancies.

Since then, conditions in the credit markets have continued to deteriorate, and at the end of last month, Bank of Ireland was one of six Irish banks to be helped by a new government bail-out package.

The Irish government now owns 8 per cent of the company's core tier one preference shares, giving it 25 per cent of the voting rights in respect of director appointments.

The Bank of Ireland brand is the core brand of Bank of Ireland Group and we propose to conduct all new customer mortgage lending under this brand. The Bank of Ireland's only remaining UK mortgage business will now be conducted via its joint venture with the Post Office, and through its 44 branches in Northern Ireland.