Bank ends Irish golfer Padraig Harrington's sponsorship

The bank has sponsored the Dublin born golfer since 2007.

Golfer Padraig Harrington could find his wedge a little thinner in the next few months following Bank of Ireland's decision to end its sponsorship deal.

The bank, which is now 15% state-owned, has decided not to renew its current deal when it expires at the end of May.

The bank has sponsored the Dublin born golfer since 2007.

The decision to pass on its renewal option is one of a series of cost-cutting measures the bank is currently implementing.

The bank's sponsorship deal coincided with a time when the Harrington's career took off.

In 2007, he became the first home winner of the Irish Open in 25 years and went on to win the British Open in the same year and also in 2008.

He also rose to number three in the world rankings.

Chief Executive of Bank of Ireland Corporate Banking Tom Hayes said: "While we were confident that we were partnering with a great golfing talent, he surpassed all our expectations.

"We are exceptionally proud of our association with him and we wish him continued success in his future career."

Padraig Harrington said he was very pleased to have been able to represent the bank.

"I have thoroughly enjoyed working with the Bank of Ireland team, its customers and the many staff who have supported me over the last three years," he said.

In November 2009, the bank announced losses of almost 1bn euros (£895m) for the six months to the end of September.

The bank has 44 branches in Northern Ireland and runs a financial services joint venture with the UK Post Office.

It said those six months had been "difficult" but it remained committed to the UK market and will continue its partnership with the Post Office.

Ireland's banking sector has been badly hit by the international financial turmoil, the collapse of a domestic property bubble and a deep recession in the former "Celtic Tiger" economy.