Dáil Éireann Debate, Tuesday - 2 May 2017
282. Deputy Niamh Smyth asked the Minister for Finance if he has received an update from a bank (details supplied) regarding its recent branch closures; the number of redundancies there have been in Arva, Cootehill and Carrickmacross; and if he will make a statement on the matter. [20337/17]
Amharc ar fhreagraFirstly I note with regret that Ulster Bank is closing a significant number of branches with considerable negative impacts on both staff and customers alike. As you would be aware redundancies are a matter for my colleague, the Minister for Jobs, Enterprise and Innovation. I fully appreciate that the decision taken by the bank will be keenly felt in the locations concerned, both by staff and customers. It is my understanding that the bank has been consulting with staff representatives and hopes that the necessary staff reductions can be achieved on a voluntary basis by agreement. I would urge both sides to work together to achieve agreement and to utilise the resources of the State industrial relations apparatus to do this if necessary.
However, I should stress that the Irish Government has no formal role in the commercial decisions of Ulster Bank, or any other bank, as to their future business model. This is a matter for the Board and Management of a bank itself.
The recent Ulster Bank closures are a response to changing ways of banking due to less use of cash, increased use of technology and corresponding reduced visits to branches. That said, I expect that Ulster Bank will do everything that it can to mitigate the impacts of these branch closures on local communities, including technology and the use of alternative means of service delivery. I also expect that the bank will ensure that customers are kept informed about developments and provided with the appropriate assistance to move branches, switch to other banks and avail of alternative means of accessing financial services. The Central Bank will also have a role in ensuring that consumer protection rules are followed.
I understand that in all locations Ulster Bank are committed to working with the local community to ensure a service is maintained. The bank has proposed how it will deal with continuity of service for its customers and this information will be made available to relevant customers. In addition, I understand that the Bank is willing to talk to local representatives about any concerns they might have.
Finally, the continued presence of a viable and active Ulster Bank in the Irish market will be important in fostering competition for banking services. It is vital that businesses and consumers have a range of banking options available when using financial services and accessing credit and that they continually assess their options to ensure that they are getting the best value and service possible.
