Bank of Ireland is seeking to raise around €4.2 billion in capital, Reuters reports. The central bank will raise the cash through a combination of capital-management initiatives. The capital is scheduled to be raised by the end of July 2011.

The lender has appointed UBS, Deutsche Bank and Credit Suisse as its advisors. The bank has been asked to raise the capital as part of the government's plans to recapitalize its financial system.

Click here for the story from Reuters.