Bank of Ireland
 |
|
| Public company | |
| Traded as |
|
| Industry | Finance |
| Founded | 1783 |
| Headquarters | Dublin, Republic of Ireland |
|
Key people
|
Archie Kane, Governor, Richie Boucher, CEO |
| Products | Banking & Insurance products |
| Revenue | €2,974 million (2014) |
| €1,301 million (2014) | |
| €921 million (2014) | |
|
Number of employees
|
11,086 (2014) |
| Website | www.bankofireland.com |
The Bank of Ireland (Irish: Banc na hÉireann) is a commercial bank operation in Ireland and one of the traditional 'Big Four' Irish banks.
Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Bank of Ireland, the ancient institution established by Royal Charter in 1783.
Bank of Ireland is the oldest bank in continuous operation (apart from 4 closures due to bank strikes, 1950, 1966, 1970, 1976) in Ireland.
The history is as follows:
The Bank of Ireland is not, and was never, the Irish central bank. However, as well as being a commercial bank – a deposit-taker and a credit institution – it performed many central bank functions, much like the earlier-established Bank of Scotland and Bank of England. The Bank of Ireland operated the Exchequer Account and during the nineteenth century acted as something of a banker of last resort. Even the titles of the chairman of the board of directors (the Governor) and the title of the board itself (the Court of Directors) suggest a central bank status. From the foundation of the Irish Free State in 1922 until 31 December 1971, the Bank of Ireland was the banker of the Irish Government.
The headquarters of the bank until the 1970s was the impressive Bank of Ireland building on College Green, Dublin. This building was originally designed by Edward Lovett Pearce in 1729 to host the Irish Parliament, and it was the world's first purpose-built two-chamber parliament building.
The bank had planned to commission a building designed by Sir John Soane to be constructed on the site bounded by Westmoreland Street, Fleet Street, College Street and D'Olier Street (now occupied by the Westin Hotel). However the project was cancelled following the Act of Union 1800, when the newly defunct Parliament building was bought by Bank of Ireland in 1803. The old Bank of Ireland building continues today as a working branch. Today, visitors can still view the impressive Irish House of Lords chamber within the old headquarters building. The modern Irish Parliament is now housed in Leinster House in Dublin. In 2011, the Irish Government set out proposals to acquire the building as a venue for the state to use as a cultural venue.
...
Wikipedia