No clients are affected by an internal investigation at Bank of Ireland Private Banking, the bank has said. Its statement follows a report in the Sunday Independent that the bank's internal auditors are investigating possible irregularities in the division.

According to an anonymous source quoted by the newspaper, a “thorough examination” of Bank of Ireland Private Banking has been conducted by the bank’s audit team over the past six weeks.

Bank of Ireland declined to make any further comment on the matter. “Whilst it is bank policy not to comment on internal matters, the bank confirms that no clients are impacted. The bank’s commitment to providing a quality service remains a key priority and all our customers can be assured that there is no cause for concern,” the statement read.