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Bank of Ireland sells UK credit cards for $672 million

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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)

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