independent

Friday 18 April 2014

Ulster Bank to shut down 20 branches in North and South

ULSTER Bank plans to close about 20 branches, it emerged today.

Ten branches will be closed on each side of the border, the bank said.

An Ulster Bank executive detailed the lender’s plans to shut offices on a conference call with some staff last month, the Irish Bank Officials Association said in a letter to its members at the bank.

Larry Broderick, the union’s general secretary said he was “shocked that an announcement like this was made during a teleconference with no prior consultation with our union”.

Trade union officials will now meet executives at Ulster Bank next week.

Branch closures at Ulster would mirror moves by lenders such as Allied Irish Banks and Danske Bank following the property collapse. Ulster Bank parent Royal Bank of Scotland has injected at least €12bn into its unprofitable Irish unit since 2008 to absorb losses since the economy collapsed.

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