ALMOST 4,000 Bank of America staff in the region face an anxious few months after the US financial giant yesterday announced it intends to “exit” the UK credit card market.

The bank, which operates in the UK credit car market from Chester under the MBNA brand, told the Daily Post that the form of the exit had not yet been decided.

Options under consideration include a sale of the credit card operation or closing it down altogether – a move which would be a huge blow to employment in the Chester area.

The news came as a shock to staff who were summoned to a company-wide meeting at the bank’s Chester Business Park European head office yesterday lunchtime.

One bank employee told the Daily Post: “At 1pm everyone was asked to go into the auditorium and we were told that Bank of America was looking for a buyer for its European credit card businesses, including the UK and Ireland.

“They haven’t announced any redundancies because, as yet, there’s no buyer come forward.

“It’s just gone on the market and they are looking for interest.

“It’s come as a shock to everyone.”

A spokesman for Bank of America said that no decision had yet been taken on what form its exit from the UK credit card business would take, but said the preferred option was to sell the business.

He added: “We are doing everything we can to communicate with our people.

“We felt this was the right route to go given the announcement we are making today on Canada.”