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Bank closure not unexpected says Minister

Bank of Ireland has announced it’s closing its branch on the Isle of Man.

 

The office, at the bottom end of Christian Road in Douglas, will shut by the end of August next year as the group winds down its Island subsidiary.

 

In an announcement on its website, Bank of Ireland offshore says it’s no longer accepting any new deposits or customers.

 

It’s unclear how many jobs may be lost, but the firm says it’s consulting with staff.

 

Treasury Minister Eddie Teare says the move wasn't unexpected:

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