Bank of Ireland

Banking
Ireland
Bank of Ireland

According to its Annual Report filed with the SEC for fiscal year 2014: "On 5 November 2014, the Group terminated its customer relationship with the Embassy of Iran in Ireland and related Embassy personnel; and closed all related accounts on that day also. These accounts were used for local expenses and were operated in accordance with applicable local law and authorisations. For the period covered by this report, the Group had €386 (three hundred and eighty six euro) in gross revenues for all Iranian bank-related activity described in this section, which includes fees and / or commissions. The Group does not allocate direct costs to fees and commissions and therefore has not disclosed a separate profits measure."

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According to its Annual Report filed with the SEC in 2013: "The Group holds certain accounts for the Embassy of Iran in Ireland, and certain Embassy personnel, and process payments into and out of those accounts related to official Embassy business, scholarship payments to Iranian students in Ireland and the personal expenses of Embassy personnel. These accounts are used for local expenses and are operated in accordance with applicable local law and authorisations. For the period covered by this report, the Group had €1,021 in gross revenues for all Iranian bank-related activity described in this section, which includes fees and/or commissions. The Group does not allocate direct costs to fees and commissions and therefore has not disclosed a separate profits measure. The Group intends to maintain these accounts, in accordance with applicable local law and authorisations."