DUBLIN: AIB, one of Ireland’s four major commercial banks, is shutting 15 of its Republic branches following a strategic review. The State-backed bank plans to close the majority of its branches in Dublin and Cork and merge their operations with those of other nearby branches.
AIB said the latest move was due to increased customer digital usage and declining branch visits. The mergers will take place in stages beginning in September and will be completed by December.
Earlier this year, Jim O’Keeffe, AIB Managing Director of Retail Banking, stated that the bank is “committed to maintaining a strong presence in the communities we serve throughout Ireland.” But the bank’s announcement of closure contradicts his statements. However, AIB will retain 170 branches across the Republic.
The decision will have an impact on about 100 AIB staff across 15 branches. Customers are not required to take any action and will be contacted in due course, the bank said.
Last week the bank said it intends to close more than half of its 15 branches in Northern Ireland. It also stated in December of last year that it would cut off 1,500 jobs and close three of its six Dublin head offices.
AIB is also working to expand its partnership with An Post. Customers will be able to carry out cash services at 900 post offices under a new initiative that is currently in progress.
College Road, Donnybrook, Blackrock Road, Sutton, Sandyford, Skerries, Dalkey, and 37/38 O’Connell Street are among the branches that will close in Dublin.
The move, according to AIB, is another step towards securing the survival of its branch network in a time of negative interest rates and competition from non-traditional lenders.
AIB claimed that its customers now engage with its digital app more than 1.54 million times per day, and that they make 35,000 daily branch visits, down from 50,000 two years ago.
FSU criticised bank’s decision
The Financial Services Union (FSU) criticised the bank’s decision and demanded that it must be reversed.
John O’Connell, general secretary of the Financial Services Union, said the closures of branches are undermining the chances of a successful reopening of the economy. It also causes a great deal of stress for employees, businesses, and local communities, he added.
FSU urges the governor to intervene in the matter and direct the bank to suspend any branch closures until the community and economy reopen.
The closing branches are:
Branch Closing date Accounts moving to
College Road, Cork Sep 24th Western Road
Donnybrook, Dublin Sep 24th Ranelagh
Blackrock Road, Cork Sep 24th 66 South Mall
Sutton, Dublin Oct 1st Raheny
Little Island, Cork Oct 8th Midleton
Sandyford, Dublin Oct 15th Stillorgan
North Main Street, Cork Oct 22nd 66 South Mall
Skerries, Dublin Oct 29th Balbriggan
Ennis Road, Limerick Nov 5th 106 O’Connell Street
Douglas Court, Cork Nov 12th Douglas Road
Golden Island Nov 19th Athlone
Ballyphehane, Cork Nov 26th 66 South Mall
Dalkey, Dublin Dec 3rd Dún Laoghaire
37/38 O’Connell Street, Dublin Dec 3rd Capel Street
Newcastle Road, Galway Dec 10th Lynch’s Castle
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