Bank of Ireland sells UK credit cards for $672 million

Text size Aa Aa

LONDON (Reuters) – The Bank of Ireland has sold its British credit card portfolio to digital finance company Jaja Finance for around 530 million pounds, the company said on Friday.

The portfolio comprises existing Bank of Ireland UK, the AA and Post Office-branded credit cards.

Bank of Ireland said the group had entered into a separate long-term agreement under which Jaja will become the issuer for the AA and Bank of Ireland UK’s consumer credit cards.

(Reporting by Iain Withers; Editing by Jan Harvey)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.