Banks in the North should use their profits to update “antiquated” IT systems which failed leaving thousands of customers unable to use their accounts, a report from politicians said.

First Trust Bank has confirmed that it will close six branches in Northern Ireland by June.

EBS is set to shed a further 200 jobs, with the news coming a day after staff at its parent company AIB’s Northern Ireland operation First Trust Bank won a £2m (€2.3m) payout in bonuses and pay rises.

Allied Irish Banks (AIB) has today announced that it is to close 67 branches across the country.

AIB is looking at virtual nationalisation, with the state likely to end up with a 90% equity holding.

WITH MBNA yesterday announcing the latest job losses in the finance sector, the country’s main finance union IBOA has predicted that a further 4,000 jobs could go from banking in only the next six months.

AIB has refused to comment on its progress in meeting capital-raising requirements, despite mounting speculation regarding its Polish operations and concerns over the possibility of state ownership.

AIB has pencilled in a rights issue for September, to help it meet its €7.4 billion post-NAMA capital requirement by the end of the year.

There is concern for the future of hundreds of bank staff at AIB's subsidaries in the North and the UK.

A former bank manager was charged today with a £7m (€7.75m) fraud and money laundering operation.

A former manager at the Newry branch of First Trust bank is reportedly being questioned in connection with a police investigation into alleged fraud and money laundering.

A building society boss came under fire at the North's Assembly today for telling consumers they had to end their high-spending lifestyles.

Property developer Barry Gilligan is set to take over as the new chairman of the North's Policing Board.

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.

The economic impact of shoppers flooding across the border from Ireland cannot be overstated, a leading bank said in its latest review of the North's economy today.

The Northern economy should avoid the worst of the global financial downturn, according to First Trust Bank.

One of the North's leading banks is predicting that political stability will help boost the economy over the coming years.

A former organist pleaded guilty today to swindling nearly £150,000 (€221,000) from her church and the bank where she worked.

THE North’s “Big Four” banks were condemned yesterday for imposing higher charges and paying lower levels of interest to personal customers than would be expected if there was greater competition.

Northern Ireland’s “Big Four” banks were condemned today for imposing higher charges and paying lower levels of interest to personal customers than would be expected if there was greater competition.

The North’s “Big Four” banks were condemned today for imposing higher charges and paying lower levels of interest to personal customers than would be expected if there was greater competition.

The North's economic outlook for the next 12 to 18 months is more unsettled than for some time, an expert warned today.

The Bank of Ireland was under fire from the Consumer Council today for treating its customers in the North less well than in the Republic.

The North's Consumer Council is calling on the Bank of Ireland to remove all charges from its personal current accounts in Northern Ireland.

A special fund to help some of the tens of thousands of children affected by the Asian earthquake and tsunami was established in Northern Ireland today by the Honorary Indian Consul.

IRISH rugby captain Brian O'Driscoll and Republic of Ireland soccer manager Brian Kerr attended the formal launch in Croke Park yesterday of a fundraising trust to honour the memory of the late Cormac McAnallen.

Five men appeared in court in Belfast today charged with conspiring to imprison and rob a bank employee.

Workers at the First Trust Bank in the North have secured a new three-year pay deal.