Bank of Ireland

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Bank of Ireland Group plc is one of Ireland’s four biggest banks. It operates as a public company and is traded on European stock markets. The bank is based in Dublin and serves customers in the Republic of Ireland, Northern Ireland, Great Britain, and beyond. It offers a wide range of financial services, including personal banking (checking, savings, mortgages, credit cards), business banking (loans and cash management), and investment and asset management.

Key facts (2023)
- Revenue: €7.8 billion
- Operating income: €4.4 billion
- Net income: €1.6 billion
- Employees: about 10,800

History and background
- The Bank of Ireland traces its roots to the Bank of Ireland Act of 1781 and opened in 1783, making it the oldest bank still operating in Ireland (apart from periods of closure).
- It began in Dublin and gradually expanded to other towns and cities.
- Over the years it grew to be the government banker in Ireland (from 1922) and merged with other banks to form the Bank of Ireland Group in 1969.
- The bank has long tied its fate to technology and modern banking, introducing ATMs in the 1980s, online banking in the 1990s, and various IT and outsourcing arrangements in the 2000s.

Regulation and notes
- Since 2014, Bank of Ireland has been designated a Significant Institution and is supervised by the European Central Bank (ECB).
- The bank does not issue its own currency in the Republic of Ireland, but in Northern Ireland it has historically printed pound sterling notes under its own design.

Notable events
- The bank received a government rescue package during the financial crisis and faced various challenges, including a sharp fall in share price in 2009.
- There have been high-profile security and data incidents, as well as governance and transparency reviews in the past.
- In 2022, the Irish government sold its remaining stake, returning Bank of Ireland to full private ownership.
- The bank continues to modernize, including plans to upgrade its ATM network in 2025.

Today, Bank of Ireland remains a major player in Irish banking, offering a broad range of financial services to individuals, businesses, and institutions, with significant operations in Ireland, the UK, and beyond.