Bank to sell art to raise money for charity

One of Ireland’s largest banks, Bank of Ireland, is planning to sell its extensive art collection to raise money for charity, according to a report in the Irish Times.

The bank owns 2,000 pieces of art, one of the largest collections in the country. Valued at €5 million, it will be sold on the open market. Works by Basil Blackshaw, Camille Souter and John Behan are included.

In common with other banks, including its chief competitor in Ireland, Allied Irish Bank, Bank of Ireland has received funding from the Irish taxpayer following the financial crisis last year.

AIB has an art collection of more than 3,000 pieces which was valued at €15 million in 2008.

www.bankofireland.ie