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The penny drops: how rural uprising forced AIB bosses to scrap plans to make 70 branches go cashless

Outrage over bid to cut local services hurtled around globe to reach Taoiseach Micheál Martin in Japan

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Jim O’Keeffe, AIB’s managing director of retail banking, with Debbie Byrne, managing director of An Post Retail. Picture by Maxwells

Jim O’Keeffe, AIB’s managing director of retail banking, with Debbie Byrne, managing director of An Post Retail. Picture by Maxwells

Councillor Máirín McGrath, Mattie McGrath TD, Danny Healy-Rae TD and Michael Collins TD leave AIB HQ in Dublin on Friday after the bank reversed its decision to remove cash services from 70 branches. Picture by Conor Ó Mearáin

Councillor Máirín McGrath, Mattie McGrath TD, Danny Healy-Rae TD and Michael Collins TD leave AIB HQ in Dublin on Friday after the bank reversed its decision to remove cash services from 70 branches. Picture by Conor Ó Mearáin

Colin Hunt, chief executive of AIB. Picture by Gareth Chaney

Colin Hunt, chief executive of AIB. Picture by Gareth Chaney

Taoiseach Micheál Martin. Picture by Gareth Chaney

Taoiseach Micheál Martin. Picture by Gareth Chaney

aib atm

aib atm

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Jim O’Keeffe, AIB’s managing director of retail banking, with Debbie Byrne, managing director of An Post Retail. Picture by Maxwells

After months of poring over spread sheets and financial projections, senior executives at Allied Irish Banks (AIB) finally signed off in recent weeks on a major component in its plans to implement cost savings of €230m by next year.

Adding another 70 branches to the 22 that are already “cashless” would eventually mean major cuts to two of the most expensive items on its balance sheet: staff and loss-making cash-handling charges.


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