LAST UPDATE | 1 Mar 2021
BANK OF IRELAND has said this morning it plans to close 88 branches in Ireland and a further 15 in Northern Ireland.
In a statement this morning, the bank said no branches will close in the next six months with the closures set to begin from September.
The locations for these closures have now been announced, after staff at the affected branches are briefed.
In a statement released this morning the locations were confirmed as:
Carlow
Cavan
Clare
Cork
Donegal
Dublin
Galway
Kerry
Kildare
Kilkenny
Laois
Leitrim
Limerick
Longford
Louth
Mayo
Meath
Monaghan
Offaly
Roscommon
Sligo
Tipperary
Waterford
Westmeath
Wexford
Wicklow
The following Northern Ireland branches will also be closed:
The move comes as its business has “reached a tipping point between online and offline banking”, Bank of Ireland said.
The branch network in Ireland will reduce from 257 to 169 and from 28 to 13 in Northern Ireland.
“The branches closing are predominately self-service locations which do not offer a counter service,” the bank said.
It also said a new partnership with An Post will offer customers access to a range of banking services at over 900 locations. This will include withdrawing cash and making cash and cheque lodgements.
Bank of Ireland also indicated that €12 million will be invested in a re-sized branch network by the end of 2022.
Speaking to RTÉ Radio One’s Morning Ireland, Group CEO Francesca McDonagh said that customers had said “loudly and clearly” they wanted more digital and fewer branches.
“[The closures] are reasonably well spread, and include Dublin as well,” she said.
“There will be no compulsory redundancy process,” McDonagh said, adding that staff affected by the closures can work in a different branch or another part of the business.
They can also opt for voluntary redundancy but there will “be no compulsory element”, she said.
In a statement, McDonagh added: “Technology is evolving, and customers are using branches less, year on year on year. Covid-19 has accelerated this changing behaviour, and we’ve seen a seismic shift towards digital banking over the past 12 months.
We know news like this can cause concern for some customers, and for the communities that we serve. We’re not making these changes immediately – no branches will close in the next six months. That allows us to ensure the An Post partnership is up and running before any branches close, and gives us time to communicate fully with all our customers about every option available to them online, in a nearby BOI branch, or at a local post office.
The bank added that in a small number of locations where there is no alternative ATM available, Bank of Ireland will maintain an ATM.
Reaction
Labour’s finance spokesperson Ged Nash said the move was a “kick in the teeth” for customers and staff of Bank of Ireland.
He said: “There is no doubt that Bank of Ireland is exploiting the Covid-19 crisis to drive down its costs. The bank’s ruthlessly opportunistic plans to cull 88 branches in towns across the State will have an even more severe and direct impact on the fabric of communities across the country than Ulster Bank’s recent announcement, given their extensive reach.
“Physical bank branches are intrinsic to the commercial and social life of main street Ireland but it seems that this is a factor of limited interest to the Central Bank of Ireland as the regulator.”
The Financial Services Union has urged the Central Bank and Minister for Finance to protest customers and staff.
It’s general secretary John O’Connell said: “Closing branches at this time will affect vulnerable people the most. We cannot allow Bank of Ireland to withdraw a vital service from the elderly, from people with no internet access, from people with literacy problems at this time of increased anxiety.
“This decision will also massively impact on the SME sector at a time when it is on its knees. If you operate a small business in rural Ireland today you will be feeling more isolated today as another service is ripped out of your community.
“Bank of Ireland attempted to close branches back in March last year. Public opinion changed their minds last time, and it will again.”
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