Bank of Ireland

Is Bank of Ireland ethical?

Bank of Ireland has been assessed in The Good Shopping Guide’s Ethical Banks & Building Societies Ratings Table and receives a below-benchmark score.

Although our ethical requirements have not yet been met by this company, we hope that in the future, it will make the necessary adjustments to operate as a more ethical business.

More information on the ethical issues faced by the sector, may be found in The Good Shopping Guide’s article on Ethical Banking. You can also use our Ethical Banks & Building Societies Ratings Table to compare Bank of Ireland to other banks.

What does Bank of Ireland do?

Bank of Ireland is Ireland’s oldest bank in continuous operation, originally established in 1781. In present day, the bank is fully privately owned, after the Irish state sold its remaining stake in September 2022.

For which criteria does Bank of Ireland score poorly? 

Unfortunately, Bank of Ireland receives a bottom rating for Other Criticisms. This is because the company has been publicly called out for several unethical business practices, including failure to prevent data breaches and overcharging customers on their mortgages.

In what areas does Bank of Ireland score well for its ethics?

As the Bank of Ireland discloses its Scope 1, 2 and 3 carbon emissions and has made a commitment to becoming Net Zero, the company receives a top rating for Carbon Disclosure & Reduction Targets.

Additionally, Bank of Ireland has achieved a top rating in the Environmental Destruction criterion, since it has not been implicated in the funding of any harmful environmental projects in the past 5 years.

How can Bank of Ireland improve its ethical rating?

The ethical rating of a Finance brand is divided into three categories by The Good Shopping Guide: the Environment, People and Other. Find out more about how we rate.

Bank of Ireland may meet our ethical benchmark if it improves in some of our research categories. For instance, the company should work towards improving its business practices to attain a top rating for Other Criticisms in the future.

If you’re interested in learning more about achieving Ethical Accreditation for your brand, please contact us or complete a Free Initial Assessment form.