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Bank of Ireland confirms the sale of Chase de Vere to AWD


Bank of Ireland confirms it has sold its subsidiary advisery firm for a total cash consideration of 30m, about 20m.

The deal is subject to regulatory approval from the FSA and is expected to complete during March 2005.

Bank of Ireland UK chief executive Roy Keenan says: “The sale of Chase de Vere is part of our strategy to focus on our core operations of business banking, consumer banking and mortgages using both the Bank of Ireland and the Bristol & West brands. In addition we are developing our joint venture with the UK post office, selling financial services products through their
extensive branch network.”

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