Fears over MBNA jobs in Leitrim
Hundreds of jobs may be in jeopardy as credit card company MBNA signals its exit from the UK and Ireland.
Yesterday afternoon, the parent firm of MBNA credit card company, Bank of America, announced it was withdrawing its business in Ireland and the UK.
Currently, the group employs 1,000 people at its offices in Carrick-on-Shannon in Leitrim.
There is some hope this morning that a buyer may be found for the business and the jobs saved. IDA Ireland has committed to finding a buyer for the company. It is understood Bank of Ireland has also offered its assistance to help the company sell the business and keep the jobs in Ireland.
MBNA holds one of the largest credit card businesses in Europe, with portfolios of a combined US$19 billion in credit card loans and more than 4,000 employees.
RTE reports this morning that another 700 jobs at MBNA’s two Dublin branches are safe.
Announcing the exit from the UK and Ireland credit card markets, Bank of America said an international consumer card business under another brand is not consistent with its current strategy.
The bank needs to improve its capital ratio and selling off its credit card business will enable this.