Permanent TSB opens in former Ulster Bank branches

Permanent TSB's head of retail distribution Eddie Kearney, territory sales manager Chris Costello and retail banking director Patrick Farrell pictured outside the new Permanent TSB Swords branch

Caoimhe Gordon

February 01 2023 08:00 AM

A total of 24 former Ulster Bank branches have now re-opened as Permanent TSB (PTSB) banks.

PTSB bought 25 Ulster Bank branches as part of its acquisition of the departing bank’s assets in December 2021.

As a result, PTSB has now increased its branch network to 98 locations across the country.

The bank reported today that 24 of the acquired branches have now re-opened for customers, with the final branch, which is located in Westport, set to re-open on February 20.

The branch re-openings follow a refurbishment and rebranding programme from PTSB.

The bank invested €25m in refurbishing in the former Ulster Bank locations, installing new ATMs and IT equipment, as well as new signage and displays.

All branches will offer cash services, with former Ulster Bank employees remaining at the locations.

More than 125 Ulster Bank staff have now transferred to PTSB following its acquisition of Ulster Bank assets.

“We are delighted to open branches in 25 communities that would otherwise have lost a bank branch from Ulster Bank’s closure,” retail banking director Patrick Farrell said.

“Our €25m branch investment programme is a real statement of intent from Permanent TSB. We are committed to serving these communities and supporting local customers,” he added.

Last month, Ulster Bank has announced that its remaining 63 Ulster Bank branches will cease all transactions on March 31 of this year, with branches permanently closing on April 21.