Lloyds Banking Group Plc is to close its retail branch network in Ireland, although it will maintain a business presence, union Unite said Tuesday. Skip related content
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Irish unit Bank of Scotland Ireland (BoSI) was originally part of lender HBOS, taken over by Lloyds after the latter ran into trouble at the height of the financial crisis.
HBOS had aggressive expansion plans for the unit at the height of the Irish boom, rolling out retail branches in a challenge to the country's big banks, but it was then hit hard by the property crash.
"Staff at Bank of Scotland Ireland and Halifax have been advised of the closure of the retail branch network, the asset finance division and customer care centre," Brian Gallagher, regional officer at union Unite, said.
The union said 750 jobs would be cut.
"The bank have said they intend to maintain a presence in the business banking sector and intend to maintain 850 jobs," he added.
Lloyds was not immediately available for comment. Lloyds, Britain's largest retail bank, is in the throes of a reorganisation after the HBOS merger and is selling off a string of British assets under a state aid ruling from EU regulators late last year.
(Reporting by Padraic Halpin in Dublin and Clara Ferreira-Marques in London; Writing by Barbara Lewis; Editing by David Holmes)
NEW YORK (Reuters) - Barclays Capital told its research analysts in a memo this week not to use the relatively new but increasingly common "PIIGS" acronym to describe five European nations with strained fiscal conditions, a source at the bank told Reuters on Friday.
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