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Bank of Ireland has announced it will close 15 branches in Northern Ireland

No details yet on whether the bank's branches in Derry will be affected

Bank of Ireland apologises

Bank of Ireland has announced it will close 15 branches in Northern Ireland.

The bank currently has 28 branches in Northern Ireland, including branches at Strand Road and Culmore Road in Derry.

No details have yet been released about which branches are to close.

The bank is expected to release that information later today.

It is part of a wider cost cutting exercise which will shut over 100 branches across the island of Ireland.

The Dublin-based bank operates across the Republic of Ireland and the UK, and is one of Northern Ireland's 'big four' banks.

Chief Executive Francesca McDonagh said the bank's UK head office will also relocate from London to Belfast

Ms McDonagh said the Northern Ireland business will undergo "a material restructure".

Aside from closing 15 branches, she said, that restructure will include simplifying its range of products with a greater focus on car finance and mortgages.

Bank of Ireland had already closed several branches over the last decade, including ones in Derry.

In 2011, it had 44 branches in Northern Ireland.

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