Mike Soden, chief executive-designate at the Bank of Ireland Group, said: "The consolidation of Bristol & West and Retail Banking Northern Ireland and Great Britain creates a business with pre-tax profits of £330 million based on last year’s results. It is a logical follow-through to the amalgamation of the NI and GB retail banking operations and creates a business with a very attractive range of products and delivery options. Bristol and West is now a more rounded financial services company, having diversified its mortgage and investment advice business. It has many potential synergies with our Banking NI and GB business from which both will benefit. The enlarged business will provide a more effective platform for further growth in Britain."
