Irish banks ‘poaching’ UK business

Ireland's two largest banks were today accused by British competitors of trying to poach millions of pounds of business from their corporate clients.

Allied Irish Bank and Bank of Ireland have been ringing businesses across the country suggesting they shift their cash deposits to take advantage of the Irish government's 400 billion (£315 billion) savings guarantee.

One senior UK banker said: "Several of our corporate relationship managers have been told by their clients that they have been approached by the Irish banks in the last couple of days."

One of the biggest High Street banks has made a formal complaint to the Treasury.

There is an escalating row between the British and Irish governments over the gurantee package.

Prime Minister Gordon Brown told his Irish counterpart Brian Cowen that he must "restrict the inflows into these Irish institutions".