Branch network changes in Northern Ireland also announced with some closures

Bank of Ireland today, 23rd January 2013, reaffirmed its business strategy in Northern Ireland to support the region’s economic growth and provide competitively-priced products and services to customers. To help deliver this strategy, Bank of Ireland UK has undertaken a review of all customer channels in Northern Ireland, including its branch network.  As part of this review Bank of Ireland is investing £10million in its branch network.

Bank of Ireland UK is investing in and adapting its network to the changing needs of customers, many of whom like to bank across a variety of platforms.  The Bank’s priority is to ensure its branch network and direct channels are fully integrated while also ensuring it maintains a significant geographical spread across Northern Ireland.  Bank of Ireland UK is also announcing the closure of nine smaller branches where the volume of business is insufficient to sustain them.  These branches account for around 7% of the business conducted by the network in Northern Ireland.

Staff affected by the closures will be either redeployed to suitable roles in other branches or businesses or become potentially eligible for existing redundancy programmes.

As part of this investment programme all thirty-five remaining branches will have been upgraded and modernised.  Eighteen branches are undergoing a complete refurbishment including a contemporary and informative branch interior and improved customer self-service options for all routine banking transactions and a strong focus on providing personal and business customers with financial advice, sales and support.

Sean Sheehan, Regional Manager for Northern Ireland, said: “To help deliver our strategy for Northern Ireland we are investing in a modern branch network that provides customers with easy access to banking services and is fully integrated with our online, phone and mobile channels. As part of that investment, we have already opened a new branch, City Hall Branch in Belfast city centre, and upgraded nine branches.

“We also have to ensure that the network is cost-effective and fit for purpose. We understand that closing branches is disappointing for those who use them but the volume of business at the branches involved means they are not sustainable in the long term. We will continue to service those customers through larger branches which are being modernised and upgraded.”

Sean Sheehan added: “The Northern Ireland marketplace is competitive and we must service our customers through a full range of contemporary and easily accessible channels. The changes we are making, particularly the investment in branches, are designed to help us develop our business in what is a core franchise for Bank of Ireland.”

The branches will close during May to June 2013 and their activities will be merged into larger branches and Bank of Ireland will be writing to all affected customers detailing the changes that are taking place.

The branches scheduled for closure are: Ballyclare, Ballymoney, Carrickfergus, Kilkeel, Kilrea, Larne, Rathfriland.  In Derry/ Londonderry, Shipquay Street and Waterside branches will close and be amalgamated into the Bank’s main commercial branch at Strand Road.  This will reduce the number of Bank of Ireland UK branches in Northern Ireland from 44 to 35.  The Bank’s branch network in the Republic of Ireland is not affected by today’s announcement.

Ends:       23rd January 2013