European Commission approves Bank of Ireland’s Restructuring Plan

The Governor and Company of the Bank of Ireland (The Bank of Ireland) European Commission approves Bank of Ireland’s Restructuring Plan

Bank of Ireland welcomes the decision by the European Commission today that the College of Commissioners has given final approval under the State Aid rules to Bank of Ireland’s Restructuring Plan. Having assessed the State Aid and Bank of Ireland’s Restructuring Plan, the European Commission is satisfied that the aid measures and the Restructuring Plan are in line with the European Commission’s communications on State Aid to the financial services industry and as such are compatible with EU rules on State Aid.

The commitments required to be given by Bank of Ireland are as previously anticipated in the RNS Announcement of 16 April 2010 (attached) and repeated in the Circular posted to Bank of Ireland shareholders on 26 April 2010.

Ends.

For further information please contact:
John O’Donovan
Group Chief Financial Officer
Tel: +353 (0) 76 623 4703

Andrew Keating
Director of Group Finance
Tel: + 353 1 637 8141

Dan Loughrey
Head of Communications
Tel: + 353 (0) 76 623 4770