Bank of Ireland to Pull Back From US Leveraged Finance
A customer uses an ATM at a Bank of Ireland Group Plc branch in Belfast, Northern Ireland.
Photographer: Hollie Adams/BloombergBank of Ireland Group Plc is withdrawing from the US market for leveraged acquisition financings as private credit has started to chip away at fees historically collected by traditional banks.
The Irish lender’s decision to wind down its loan book for US acquisition financings comes after a review of the business found that heightened competition from direct lenders is hindering its ability to earn higher returns, a representative for the Bank of Ireland said in an emailed statement.