Bank of Ireland Group is expected to reduce its workforce in the coming years as part of its strategy to simplify operations and enhance efficiency through digital transformation. Chief Executive Myles O’Grady told Bloomberg Television that the bank aims to become leaner by leveraging technology, a move driven by rising competition from digital banks like … Read more
Bank of Ireland has revealed a significant shift in consumer payment habits, with ATM withdrawals now representing only 12% of total card transactions in January, a dramatic decrease from nearly one-third of transactions before the pandemic. The latest figures highlight the continuing trend toward digital payments and away from cash usage. Despite the decline in … Read more
Bank of Ireland has announced a 0.25 per cent reduction in interest rates for its 12 and 18-month fixed-term deposit accounts, effective from February 18. The bank, however, confirmed that there will be no changes to other savings products, including the SuperSaver regular savings account, Advantage 6-month Fixed Term deposit, Notice Deposit account, Instant Access … Read more
Bank of Ireland has announced reductions in two of its savings rates, a move that could trigger further cuts from competitors. The decision follows the European Central Bank’s (ECB) recent series of rate cuts, with more reductions anticipated this year. Last month marked the fourth time the ECB decreased its key rates, impacting banks across … Read more
Bank of Ireland has reduced its fixed mortgage lending rates by 0.5 per cent for new and existing customers effective today. The move will benefit those with homes that have a Building Energy Rating (BER) of A to G. The bank stated that the four-year fixed rate is now available at 3.1 per cent, depending … Read more
Bank of Ireland has issued a warning to customers to remain vigilant amid a wave of new fraud attempts linked to the recent announcement of energy credits in Budget 2025. The bank highlighted that fraudsters are increasingly using topical events, such as the new energy credits revealed in this week’s Budget, to scam unsuspecting consumers. … Read more
Bank of Ireland has announced the appointment of Akshaya Bhargava as its new chair and governor, effective January 1, 2025. The Indian born, UK based banker will succeed Patrick Kennedy in the role, following an international search process. Bhargava has been a member of the Bank of Ireland Group board since January 2024. His vast … Read more
AIB and Bank of Ireland have started offering low-cost loans to homeowners as part of the government-backed Home Energy Upgrade Loan Scheme. Under the scheme, homeowners, including small, non-corporate landlords, can borrow between €5,000 and €75,000 for up to 10 years with interest rates as low as 3 per cent for carrying out home energy … Read more
Bank of Ireland has reported a significant 32% increase in online shopping fraud over the past year. According to Nicola Sadlier, Head of Fraud at the bank, most scams occur through advertisements on social media offering goods at low prices. Once payment is made, typically via direct bank transfers, the fraudulent sellers disappear without delivering … Read more
Bank of Ireland has announced an extension of the deadline for updating its app on older smartphones and tablets. Originally set for yesterday, the deadline has now been pushed back to July 1, granting customers additional time to either purchase a new device or update their current software. The decision to halt app updates stems … Read more
Bank of Ireland has introduced new family-friendly policies for employees. Included in the measures are leave entitlements for surrogacy, early pregnancy loss, fertility treatment, and foster care. The proposal also includes extended breastfeeding breaks and enhanced parental and partner leave. In accordance with local legislation, the measures applicable to the bank’s 9,000 employees who are … Read more
As the European Central Bank continues to raise interest rates to control surging inflation, the Bank of Ireland increased its net interest income growth forecast for 2022 on Friday for the second time in less than six weeks. The bank, which has the most assets in the nation, stated that its projected net interest income … Read more
When compared to the previous month, the number of fraudulent text message and phone call cases at the Bank of Ireland has increased by around 40% in the last two weeks. The bank is warning customers today about a scam used by fraudsters to trick people into giving up their banking information. According to the … Read more
According to the Banking Payments Federation Ireland, 297,000 new personal current accounts opened in 2022. (BPFI). Each week, 11,000 new personal current accounts were created on average. Through June and throughout the first part of July, the number of personal current accounts grew steadily. In the four weeks that ended on July 8th, about 71,000 … Read more
The Minister for Finance, Paschal Donohoe TD, announced a further extension of the Bank of Ireland’s (the “Company”) share trading plan. The plan has been very successful to date and this decision will enable the Department of Finance to continue to deliver on the Government’s objective of returning the banks to private ownership. Proceeds generated … Read more