Bank of Scotland (Ireland) Background
Who are we?
Bank of Scotland (Ireland) is one of Ireland's most successful business banks and is now the newest retail bank in Ireland. The Bank employs some 1,200 people out of its main offices in Dublin, Cork, Limerick, Waterford, Galway and Belfast, its customer service centre in Dundalk and its expanding network of retail branches.
Bank of Scotland (Ireland) provides a comprehensive banking service to businesses of all sizes and types on the island of Ireland. The Bank offers services such as business and property loans, business current accounts, asset finance, treasury and other financial products. It also provides motor finance and residential mortgages to the general public.
Bank of Scotland is remembered for shaking up the mortgage market in 1999 by introducing a range of excellent value for money home loans.
It is this and the success of business banking that has enabled Bank of Scotland (Ireland) to develop the first completely new main street bank in Ireland for over a century. The Bank will provide personal banking products such as mortgages, personal loans, credit cards and savings products. Again, like in 1999, Bank of Scotland (Ireland) plans to shake up the personal banking market, provide real competition to the main banks and drive change for the better for customers.
Financial Background
In 2004, Bank of Scotland (Ireland) announced profits of €148 million, an increase of 41% over the previous year, with total assets of €16.7 billion, up 50% on 2003. The business continues to grow at a very healthy rate
A Brief History
Bank of Scotland (Ireland) started off, in one form or another, in 1933 as ICC Bank. In 1965 another bank, Equity Bank, was founded and this was bought by Bank of Scotland in 1999. In 1999, the Bank introduced a range of home loans that shook up the mortgage market. In 2001 Bank of Scotland (Ireland) and ICC Bank merged to form the bank that we are today.
In 2004 the Bank announced it would create a new retail bank with a branch network and provide a number of personal banking products to consumers in Ireland. In 2005 Bank of Scotland (Ireland) bought a number of ESB Shop Electric shops that formed the basis of its branch network.
In January 2006 Bank of Scotland (Ireland) opened the doors to its new retail bank, providing a range of personal banking products.
