Bank of Ireland has closed down its film finance divisions in both London and LA with immediate effect.

The bank is trimming costs in its international corporate finance arm in a bid to weather the financial crisis.

The team provided short-term structured film and television production finance facilities to production companies in the US, UK and European market.

Films that the Bank of Ireland invested in included Michael Clayton, Sleepwalking, Death Defying Acts, The Painted Veil, The Hoax, Match Point and The Tiger's Tail.