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The Bank of Ireland (Irish: Banc na hÉireann) (ISEQ: BKIR. LSE: BKIR, NYSE: IRE) is a commercial bank operation in Ireland, which is one of the 'Big Four' in both parts of the island. Historically the premier banking organisation in Ireland, today Bank of Ireland is number two to Allied Irish Banks. The Bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Bank of Ireland, the ancient institution established by Royal Charter in 1783. The Bank of Ireland should not be confused with the Central Bank of Ireland, as it is a commercial bank and not the Irish central bank, as its name might suggest.