Farm Business

IFA Meets Bank of Ireland on Branch Closures

A delegation from IFA met with Bank of Ireland head of retail banking, Gavin Kelly, today to outline its views on the decision by the bank to close 88 branches around the country.

IFA President Tim Cullinan said “We made it clear to BOI that this decision has been very badly received in rural Ireland. We previously described it as a ‘slap in the face’ and that is how people in rural Ireland see it”.

He said that in light of the recent withdrawal of Ulster Bank and Bank of Ireland’s decision to close branches, it’s clear that rural Ireland is now more dependent than ever on the Post Office network.

Tim Cullinan said access to financial services is crucial for the economic vitality of rural Ireland.

IFA Farm Business Chairperson Rose Mary McDonagh said “Farming and rural communities are disproportionately impacted by these closures since over 80% of branches are located in rural Ireland. Furthermore, the exit of Ulster Bank further erodes the diminishing level of competition in the sector”.

Bank of Ireland confirmed that it’s in talks with An Post to develop a partnership whereby withdrawal and lodgement services will be available to Bank of Ireland customers in their local post office.

Ms. McDonagh concluded by calling on the Government to make the necessary investments in establishing fully-serviced community banking.

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