Politicians across the board slam Bank of Ireland closures 

This is a slap in the face that will hurt customers, staff, and communities, says SF's Pearse Doherty

Under a new deal, the bank says it will offer its services through 900 outlets of An Post in the Republic. labour's Ged Nash says it's a kick in the teeth of thousands of loyal customers and staff. Picture: Dan Linehan

Politicians across the spectrum have slammed the closure of Bank of Ireland branches across the country.

The company today unveiled plans to close over 100 branches across Ireland, marking a major shrinkage of its network. 

With closures coming in each county, politicians across the board have criticised the move. 

The bank said that many of the branches offered no counter service and were no longer being used.

Bank of Ireland said under a new deal it will offer its services through 900 outlets of An Post in the Republic.

Sinn Féin finance spokesperson Pearse Doherty said that the move would punish the public for following public health advice.

"This comes in the teeth of a global pandemic and less than two weeks after Ulster Bank announced its withdrawal from the southern market. It is a huge blow for customers and staff.

"The bank is using Covid-19 for cover, punishing customers for following public health regulations. This is not just a cynical move, but a slap in the face that will hurt customers, staff, and communities.

“This knee-jerk reaction will leave vulnerable customers without access to essential services."

Labour’s Finance spokesperson Ged Nash has described the announcement as "a kick in the teeth for thousands of loyal customers and staff".

“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.

“This move has been on their agenda for some time and it was telling that the bank refused to share the terms of reference of the operational review which has provided the basis for this decision with the Financial Services Union which represents the bulk of branch staff."

Social Democrats co-leader Róisín Shortall called on Finance Minister Paschal Donohoe, who is a 14% stakeholder in the bank, to intervene.

"The State is a significant stakeholder in Bank of Ireland. We need to hear from the Minister for Finance in relation to his view of today’s announcement. How much contact has he had with Bank of Ireland in relation to these branch closures?

"A closure of 88 branches in the Republic of Ireland and 15 in Northern Ireland represents a very significant reduction in the Bank of Ireland retail network. What is very worrying is that no impact assessment of what these closures will mean has been carried out."

Fine Gael TD Michael Ring said that the move was a blow to rural Ireland.

"All financial providers must bear in mind the loyalty that their customers across rural Ireland have given them.

“Not all people want to bank online. Many prefer to speak to a bank employee rather than listen to an automated service over the phone. People have their own reasons for this – security, comfort, or familiarity. These services must continue the length and breadth of the country and the financial providers, whether they are banks, mortgage providers, post offices, need to realise this.

“I also call on people to use and support the services in your community – be it a bank or a post office. Using these facilities shows their necessity to your area."