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NIB axe to fall

NATIONAL Irish Bank is aiming to complete its major restructuring plans six months ahead of schedule. Staff voted in favour of cutting 25 branches from its network, which would result in the loss of 150 jobs.

It was originally envisaged that the overhaul would take 18 months to complete but it is now expected that it could be completed as early as December and closures would begin next month.

Last year, the group's bad loan provisions more than trebled to €704m.

Of the 25 branches NIB plans to close, 15 are owned by the bank's parent, Danske Bank.