Brendan Smith urges retention of Ulster Bank's 88 branches
Brendan Smith warned about NatWest's consideration of strategic options for Ulster Bank and urged the government to press NatWest to retain the bank's operations in the state. He said any closure of Ulster Bank or its branch network would be devastating for communities, employees and the wider economy.
Call to retain Ulster Bank
He called for Ulster Bank to be retained in its current format with its 88 branches and more than 2,800 employees, stressing the need for a clear message to NatWest management to prevent an exit from the state.
Scale and local presence
He noted Ulster Bank has traded in the country for almost 200 years and has a substantial presence in the border region and his constituency of Cavan Monaghan, referencing three branches in County Cavanham and one in Monaghan. He named local branches in Ballyconnell, Cavan Town, Ballyjamsdough, and Monaghan Town.
Impact on communities and businesses
He warned that closure of the bank or its branch network would be devastating for communities, the bank's employees, households and businesses of all sizes. He stressed Ulster Bank's business spans all sectors, including private individuals and small and medium enterprises.
Appeal to government ministers
He said he has engaged with the Minister of Finance and the Taoiseach on the matter and appealed to the Business Minister and the Trade Minister to give a clear message to NatWest that Ulster Bank should remain in the state.
Competition concerns
He described Ulster Bank as the third largest bank and said any further diminution in banking competition in the country would be very concerning and damaging.
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Thank you very much, Ikean Cora. As the Taoiseach is aware, there are widespread concerns in many communities about the decision by NatWest Bank some time ago to consider all strategic options on the future of Ulster Bank. Ulster Bank, as we know, has 88 branches in our state, it has more than 2,800 employees, and it has a substantial presence in the border region, particularly my own constituency of Cavan Monaghan, with three branches in County Cavanham, one in Monaghan. It has been an integral part of Irish commercial life, and it has been trading in our country for almost 200 years. Any thought of the closure of this bank and its branch network would be devastating for so many communities, and for the employees of the bank as well. Any further diminution in banking competition in this country would be very concerning and very damaging. Ulster Bank is the third largest bank, and we lack banking competition in this country as it is. In my own constituency, we have Ulster Bank branches in Ballyconnell, Cavan Town, Ballyjamsdough, and Monaghan Town. Traditionally, Ulster Bank has been very much associated with Ulster and the border region, and it has had a very successful business by and large for the most of 200 years in communities right throughout our island. As the third largest bank in the country, we cannot afford to lose it. From speaking with employees for some time, and interacting with private individuals and people with small and medium enterprises, I know Ulster Bank's business is across all sectors of our economy. From the perspective of employees, business and enterprise, and so many communities, it is essential that a further clear message goes to NatWest that we want to see Ulster Bank retained in its current format with its 88 branches and more than 2,500 employees. For some time, I have been engaging with the Minister of Finance and with the Taoiseach in regard to this matter, and I would appeal to you as the Business Minister and Trade Minister to give a clear message again to the NatWest management that we want to see Ulster Bank remain in our state. We do not want to see it exit our state with the serious consequences for so many individuals, families, households, businesses of all sizes. It has been extremely important in our communities. It had major rationalisation over the years, and I want to see that network retained and the jobs of its employees protected. Thank you, Cancorla.
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