British bank HBOS said today it would open 46 branches in Ireland in the next 14 months as it expands to challenge Ireland's two big banks.
HBOS said the rollout by Bank of Scotland (Ireland) represented the first major new retail banking network in Ireland for over a century, and that it will focus on taking on Bank of Ireland and AIB.
HBOS is highly focused on Britain, which represents 87 per cent of group earnings.
The Australian and Irish divisions account for most of the balance, and last week it said it was keen to expand in both countries.