PPI claims Lloyds exits Irish banking market
Added: (Tue Aug 24 2010)
Pressbox (Press Release) -
FOR IMMEDIATE RELEASE
London, UK, 20th August, 2010: Lloyds banking group has confirmed it is set to withdraw its banking operations in Ireland.
The firm will hand back its license after posting huge losses in the country in recent months.
From the end of 2010, Lloyd's subsidiary company Bank of Scotland (Ireland) will stop trading and transfer operations, as well as its 30 billion euros (£25 billion) worth of assets, to its parent firm.
Bank of Scotland will then appoint another business to begin winding down all operations, with its 800 current staff set to transfer to this company.
This has been heavily criticised by the Unite trade union, who claimed employees are "having to come to terms with the fact that job security is now seriously compromised by what is in effect a long term winding down of the Irish operation".
The Irish banking sector was heavily hit by the economic crisis, which contributed to the country's property crash.
Bank of Scotland (Ireland) has 150,000 customers across Ireland.
“There is a serious crisis which looms over Lloyds banking group as it has announced its wish to withdraw banking operations in Ireland. The employees are up in arms against the decision and the trade unions feel their job security is compromised” says renowned financial analyst from PPI Claim Company.co.uk Charles Baker.
“People who have their PPI claims with the bank should take advice from the PPI experts. The financial experts should be well aware of the Financial Service Authority. This will ensure hassle free return from the bank”
PPI Claims Company is one of the premier PPI companies in the world. It has years of experience in this field and can help you with your payment protection claim using their no win, no service fee policy. To know more about PPI Claims you can log on to http://www.ppiclaimcompany.co.uk/ where you will also get advice on your PPI Claims and can also use to the PPI Claims Estimator to calculate your PPI.
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Website: http://www.ppiclaimcompany.co.uk
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