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BoI restructure

BANK of Ireland is the first Irish bank to have its restructuring plan entirely approved by the EU Commission.

The bank will now have to sell several assets and potentially assist competitor banks under the scheme. It will have to effectively wind down its corporate lending business in the UK and sell ICS Building Society, New Ireland Assurance and its 17pc share of the Irish Credit Bureau.

The EU outlined that the bank must also offer "certain services'' to competitor banks who enter the Irish market or small banks who already operate here.