The Finance Union, IBOA, have said the announcement by Ulster Bank that it is to seek a further 250 redundancies among the staff of the group is profoundly disappointing - given that a rationalisation programme involving 750 job losses has yet to be completed.

IBOA, the Finance Union, is seeking clarification from the Government on the likely impact of the creation of the National Asset Management Agency (NAMA) on the jobs of the Union’s 23,000 members in the financial services sector.

BANK officials have called for more fundamental changes to be made to the financial services sector, including a major reconstitution of the boards of all banks, to restore integrity to the country’s banking reputation.

FINANCE union IBOA has said it is to demand a 10% pay increase over a two-year period from the national pay talks.

FINANCE union IBOA has welcomed the intervention of the Labour Court in the dispute with Bank of Ireland over the bank’s plans to introduce less favourable pension rights for new staff.

Employees have rejected proposals by the Bank of Ireland to change the existing pension scheme for all new staff, it emerged tonight.