Transfer Order FAQs

On 1 July 2011, under powers granted by the Credit Institutions (Stabilisation) Act 2010, the Irish High Court made a Transfer Order, following a proposal from the Minister for Finance in consultation with the Central Bank of Ireland, under which all of the assets and liabilities of Irish Nationwide Building Society (‘INBS’) transferred with immediate effect to Anglo Irish Bank Corporation Limited (‘Anglo’). Former INBS business units will now operate as part of a standalone division within Anglo.

It was also announced that Anglo intends to change its name to Irish Bank Resolution Corporation Limited (‘IBRC’). It is also proposed that a number of the Bank’s subsidiaries’ names will change. There are a number of legal formalities and operational requirements that have to be satisfied before the re-naming process is finalised, at which time the Bank will issue a public announcement to this effect. The Bank will also update its website with developments.

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The transfer of the former INBS business to Anglo has been made as part of the Government’s plan for the orderly work out of the two entities.

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Your mortgage account has now transferred to Anglo. For almost all former customers of INBS there is no impact as a result of this transfer and business will continue as normal. All existing product terms and conditions will remain. Customers will continue to deal with the same customer service/relationship managers as previously at the same contact points. 

During the transitional period any operational changes will be communicated directly to customers as and when the need arises.

Transferring INBS staff will continue to work from the Grand Parade property for the immediate future, and affected customers will be advised if this changes.

The postal address for that property is now:

Anglo Irish Bank Corporation Limited, Grand Parade, Dublin 6. All telephone contact details remain as before.  The main switchboard number is
+ 353 1 609 6000

In the future, customer communications will be sent under the Anglo name (until such time as it changes).

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No action is required of Anglo customers as a result of this transfer.  During the transitional period any operational changes will be communicated directly to customers as and when the need arises.

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It was announced on 1 July 2011 that Anglo intends to change its name to Irish Bank Resolution Corporation Limited (‘IBRC’) in the near future.There are a number of legal formalities and operational requirements that have to be satisfied before the re-naming process is finalised, at which time the Bank will issue a public announcement to this effect.

The Bank will also update its website www.angloirishbank.ie with developments.

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Press Notices announcing the transfer of the INBS business to Anglo and the intention to rename the merged Bank will appear in the following broadsheet publications – Irish Times, Irish Independent, Irish Examiner and Financial Times.

An official Stock Exchange announcement has been made and the media has been briefed on behalf of both INBS and Anglo.

Letters to customers and suppliers will issue over the coming days.

The Bank will update its website www.angloirishbank.ie with future developments.

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