Bank of America Europe Card Services has sold its credit card operation for the Irish market in Carrick-on-Shannon to Apollo, which will save 250 jobs.
The remaining 400 people employed at facility who serve the UK operations will still be part of the UK business.
Last August, Bank of America said it planned to exit the UK and Ireland credit card business and would close this facility, putting these jobs at risk.
However, the sale of the facility to Apollo will save these jobs. Minister for Jobs, Enterprise and Innovation Richard Bruton welcomed the news.
“Bank of America is a massive employer and a huge contributor to the economy in Carrick-on-Shannon and the northwest, and last August’s announcement was a major shock to the region,” said Bruton.
“When I travelled to Carrick shortly after the announcement, I pledged that Government would do everything possible in an effort to secure these jobs. Since then, an intensive process has taken place and I commend the IDA in particular for their work on this case.
“Today’s announcement secures the 250 jobs employed in the Irish operation, and provides good news for the 400 people employed on the UK business. I will continue to ensure that everything possible is done to secure all jobs in the Carrick-on-Shannon operation for the long term,” he said.