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Wednesday 31 May 2023 Dublin: 12°C

# Bank of Ireland

Last month
May 2023
# Fraud
Public warned over fraudsters seeking bank details through eFlow text message scam
Bank of Ireland said consumers are reporting a consistently high volume of these text messages.
This year
2023
# Banking
Bank of Ireland apologises over error in transferring over around 35,000 KBC mortgages
The mortgage “start date” for a number of mortgages transferring from KBC to BOI was “incorrectly inputted into our systems”.
# Scam
Drivers warned of an increase in motorway text scams ahead of the Easter weekend
The scam text message urges people to pay outstanding toll charges or update account details.
# BOI
Bank of Ireland increases on fixed mortgage rates to take effect from today
The bank’s fixed mortgage rates for new and existing customers will increase by 0.5%.
# Bank exit
KBC Bank to close 11 of its 12 branches this evening
Just one KBC hub at Grand Canal in Dublin will remain open until 31 August.
# Transfer
KBC closes major deal with Bank of Ireland ahead of Irish market exit
Bank of Ireland is acquiring substantially all of KBC Bank Ireland’s performing loan assets and deposits.
# European Central Bank
Bank of Ireland increasing fixed mortgage rates again
The banks’s fixed interest rates will increase by 0.75% for all new mortgage loan drawdowns.
Last year
2022
Restoring bankers bonuses and removing pay caps an 'insult' to working families, Dáil hears
The decision was criticised by Social Democrats co-leader Róisín Shortall.
# BOI
Bank of Ireland names former chief financial officer as new CEO
Myles O’Grady has been named as the new CEO of Bank of Ireland, replacing interim incumbent Gavin Kelly.
# Interest Rates
Bank of Ireland immediately raises interest rates by 0.25% for new fixed rate mortgages
Bank of Ireland says the move is ‘in light of recent interest rate increases by the European Central Bank’.
# Scam
Bank of Ireland sees 40% increase in fraudulent text and call cases compared with last month
Consumers are being warned about a combined fake text and phone call fraud tactic.
# tracker mortgage scandal
The wound will always remain: The families affected by the Tracker Mortgage Scandal
‘One family have to drive past the house they did own every day’.
# tracker mortgages
Timeline: How the tracker mortgage scandal unfolded in Ireland
Bank of Ireland has been fined €100,520,000 by the Central Bank for its role in the controversy.
# Central Bank
Bank of Ireland hit with record €100.5 million fine over tracker mortgage scandal
The bank denied nearly 16,000 of its customers access to cheaper tracker mortgages.
The bank was sanctioned for denying nearly 16,000 customers access to cheaper tracker mortgages.
The Central Bank said Bank of Ireland’s failures resulted in the loss of 50 properties, including 25 family homes.
Bank of Ireland admitted in full to 81 separate regulatory breaches.
# Bye bye BOI
Irish State no longer a shareholder in Bank of Ireland following sale of shares
Proceeds generated from the trade amount to approximately €841 million.
# tracker mortgages
Tracker mortgages set for increase as ECB hikes interest rates by record 0.75 percentage points
The ECB is already playing catch-up with US and British central banks that started raising rates faster in response to inflation.
# BOI
Bank of Ireland completes €427m purchase of Davy
Davy was put up for sale last year after the Central Bank of Ireland levied a fine of €4.1 million against the company.
# time to switch
KBC writes to customers giving them six months to close their accounts
The bank has 130,000 current accounts that are active or have a balance.
# Banking In The Dark
Bank of Ireland apologises after customers report difficulties buying Springsteen tickets
Tickets went on sale at 8am for the singer’s Dublin shows in 2023.
# Probe
Watchdog clears Bank of Ireland €9 billion KBC deal despite 'significant' concerns
The sale would see Bank of Ireland acquire KBC’s performing loan assets.
# The Banks
Flurry of announcements caps off noteworthy week for Irish banks and their customers
Stakeholders say the industry is staring down the barrel of one of the biggest logistical challenges in its history.
# Banking
Bank of Ireland announces CEO Francesca McDonagh to step down
McDonagh joined Bank of Ireland in October 2017 as Group Chief Executive Officer.
# The Banks
Ulster Bank gives current and deposit account customers six months' notice to switch providers
Separately, KBC Bank announced yesterday that from June, customers will get 90 days’ notice to move their accounts.
THE MORNING LEAD
Banks 'ill-prepared for the biggest logistical challenge in Irish banking since the euro'
A report by
Ian Curran
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be “the perfect storm” for the remaining banks.
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be "the perfect storm" for the remaining banks.
Over one million customers will have to choose a new provider and switch over their current accounts.
But the Financial Services Union believes significant customer service issues are likely to arise, Ian Curran reports.
Is your bank exiting the market? Take action soon, experts say. Here's what you need to know
# The Banks
Bank of Ireland reports a pre-tax profit of €1.4 billion for 2021
Bank of Ireland CEO Francesca McDonagh said it delivered its “strongest performance since the global financial crisis”.
All time
# The Banks
State to sell 15% chunk of its AIB stake over the next six months, Donohoe announces
The plan is similar to the one used by the Government to sell part of its remaining bailout-era stake in Bank of Ireland.
# The Banks
Bank of Ireland fined €24.5 million for IT failures that had potential 'serious' customer impact
The failures could have led to customers being denied access to basic banking services.
# Sean FitzPatrick
Anglo's collapse has had an outsized impact on Irish life and so will Seán FitzPatrick's legacy
The former chairman of the collapsed bank never felt he had anything to apologise for.
# KBC
KBC to sell most of its loans to Bank of Ireland in €5 billion deal
KBC Bank Ireland said the transaction would ultimately result in KBC Group’s withdrawal from the Irish market.
# The Banks
Competition watchdog launches full probe of Bank of Ireland proposal to buy KBC Bank loans
The CCPC said an in-depth investigation was required to determine whether the deal would weaken competition.
# Age Action
Concern raised for vulnerable older people after Bank of Ireland closes 88 branches
An Age Action survey found that some 65% of people over the age of 65 experience “digital exclusion”.
# branch closures
88 Bank of Ireland branches are closing down today
The move will see banking services move to hundreds of Post Offices around the country.
# The Banks
Any return of bonuses for top bankers 'would not be acceptable' to staff and public
The FSU has sought a meeting with Paschal Donohoe over plans to sell the State’s stake in Bank of Ireland.
# big deal
Bank of Ireland buys most of Davy Group for €440 million
The firm was put up for sale earlier this after being rocked by a €4.1 million regulatory fine.
# The Banks
Ireland's bank network 'is being destroyed' says FSU after AIB announces 15 branch closures
AIB cited the “unrelenting shift” to digital banking as one of the reasons for the branch cull.
# scam texts
Bank of Ireland warns customers of 'alarming' fraud increase
The number of new phishing websites detected by the bank’s fraud prevention team has doubled since last month.
# The Banks
Banking on the short-term — The government is selling 'part' of its 13.9% stake in Bank of Ireland. But why now?
Finance minister Paschal Donohoe announced the six-month sale process yesterday.
# Banking
Government to sell part of State's 13.9% share in Bank of Ireland
The sale is to happen through a pre-arranged trading plan that will be managed by Citigroup Global Markets.
# The Banks
'Lingering resentment': Public trust in Irish banks remains low after 2008
But trust levels have improved substantially among younger customers since the crash.
# Fraud
Bank of Ireland warns of a spike this week in smishing messages
The bank is asking customers not to respond to fraudulent texts that try to obtain their account details.