Banking
Bank of Ireland makes further retreat from British market by axing AA deal and revising UK Post Office agreement
Davy analysts said the news “should be welcomed” but the share price was down 0.6 per cent following the announcement
Bank of Ireland has ended its partnership with The AA and refined its agreement with the UK Post Office as it reduces its exposure to unsecured personal loans in the British market.
In an announcement on the London Stock Exchange, the bank said it had “historically originated the vast majority of its UK unsecured personal loans through these partnerships” but it is shrinking this portfolio, which it expects to stand at €1.3 billion at end ...
