Union seeks clarification of banks’ IT merger

The Irish Bank Officials Association has called on the Bank of Ireland and Allied Irish Bank to clarify the circumstances surrounding the cancellation of contracts with a number of consultants.

The consultants were hired to oversee the merger of the two banks’ IT facilities, a plan the IBOA is stringently opposed to.

The union said it believes the IT merger is a precursor to attempts to fully merge the two banks and it said the discontinuation of contracts with the consultants may have further implications in relation to this.

The European Commission has extended its investigation into the proposed merger of IT facilites by another 14 days and is due to make a decision on the matter by the end of this month.

The IBOA has welcomed this extension and reiterated its fear that a merger will lead to significant job losses and would not be in the interest of consumers or of local communities.

It added that its opposition to the proposed merger has received almost unanimous support from Irish MEPs and from the Consumers’ Association of Ireland.