National Irish Bank, the fourth largest high-street bank in the Republic of Ireland, has announced its rebranding as Danske Bank. The rebrand is part of a strategy to consolidate the Danske identity across each of its geographical regions and "to deliver new standards in banking."
In 2005, the Irish bank - along with Northern Bank - was bought by Danske Bank from the National Australia Group. In May this year, Danske Bank announced the merger of Northern Bank and National Irish Bank.
Danske Bank, Denmark's biggest bank, has been working on restructuring the Irish business from a traditional retail bank to a specialised bank focusing on corporate and private clients while at the same time, offering a competitive and efficient online and telephone service to personal customers.
Terry Browne, country manager for the Republic of Ireland at Danske Bank said: "Today's announcement marks the beginning of a new chapter in the bank's history. The world is changing and so too is the nature of banking. New standards are required. Customers both corporate and personal are seeking a streamlined service offering based on market-leading technology that allows them to bank anywhere, anyhow, anytime. They want access to a proactive advisory service that will make them more financially confident. With our international banking and technology strengths, we are well positioned to deliver a strong proposition to customers while building a sustainable business and strong future in Ireland."
According to SRP data, National Irish Bank has marketed 13 products since 2006, of which four were issued this year.
In 2011, the bank launched the Trio 2 year Structured Deposit series. The last one reached its strike date in July and is due to mature in July 2014. Each two-year tranche of the series follows three different shares offering a bonus at maturity, ranging between 8% and 11% if all shares are above their initial levels.