Bank of Ireland is to sell its British subsidiary Chase de Vere Financial Solutions to German financial group AWD for €30m in cash.
The deal is subject to regulatory approval from Britain's Financial Services Authority and is expected to be completed during March.
Roy Keenan, the chief executive of Bank of Ireland UK Financial Services, said the sale was part of its strategy to focus on its core operations of business banking, consumer banking and mortgages.
Chase de Vere is an independent financial adviser, which Bank of Ireland acquired in 2000.
Bank of Ireland shares closed eight cent higher at €12.75 in Dublin this evening.
