Bank of Ireland has introduced an improved paternity leave policy for employees, which will see it triple the bank's current paid leave from two to six weeks.
Under the new policy, an employee whose partner is having a baby, adopts a child or becomes a parent through surrogacy, or who is the parent of a donor-conceived child, will have the flexibility to take six weeks of paid leave, within the first six months of the child's life.
As well as the father of the child, the spouse, civil partner or cohabitant of the mother of the child is also considered a relevant parent.
The bank said increased paternity leave can have a significant impact on both the personal and financial wellbeing of colleagues and their families.
It said such leave can promote parent-child bonding, improve outcomes for children and increase gender equity at home and at the workplace.
"Family is hugely important. We want to help our colleagues make the most of their important life milestones while also creating a more supportive and inclusive culture within the bank," said Matt Elliott, Chief People Officer at Bank of Ireland.
"This improved policy offers new parents more time to prioritise their family responsibilities with a greater balance between work and family life. And we are committed to making further improvements to it over time," he added.
Mr Elliot said this is part of a number of "family friendly" improvements they are implementing.
"Our aim is to create a more inclusive approach to all types of family leave, recognising the varying needs of the modern family in all its guises.
"We will continue to examine ways that we can improve and enhance what it is like to work at Bank of Ireland for all 9,000 of our colleagues," he said.
Bank of Ireland has also launched other policy initiatives including fertility leave and supports, menopause supports, a surrogacy support policy, and the recently added domestic abuse policy, where the bank provides both financial and non-financial support to colleagues who experience domestic abuse.
The bank has also made all of its family leave policies "day-one" entitlements for colleagues, meaning they are eligible from the first day of employment.
