Brendan Smith warned that recent decisions by NatWest and the Bank of Ireland will severely reduce banking services in rural towns and harm staff, customers and local communities. He told the minister he had engaged through conversations, parliamentary questions and debates and described the closures as a dramatic, negative shift in local banking provision.
Branch closures named
He said Ulster Bank's recent decision will result in branch closures in Ballyconnell, Ballyjams, Duff, Cavan Town and Monaghan Town, affecting four branches in his constituency. He noted the bank had previously exited towns such as Balthorba, Kilachandr, Kinnelech, Swanabar, Clonis and Casablaenie in 2013-2014 and had left Arva and Cootill in 2017.
Bank of Ireland closures and timing
He reported that the Bank of Ireland announcement will close branches in Arva, Cootill, Kingsborough, Clonis and Casablaenie. He described it as deplorable that this decision was made during the pandemic, when footfall is down because people are following public health guidelines, and warned it will further reduce banking competition in those towns.
Impact on towns and services
He argued some of the towns named are good market towns with substantial employment but that several will be left with no banking facility at all. Smith highlighted the contrast between calls to promote rural jobs and remote working post-Covid and the withdrawal of major financial institutions from smaller towns and villages.
Vulnerable people and staff affected
Citing the Financial Services Union, he said closures will remove vital services from elderly people, those without internet access, people who lack confidence doing business online, and those with literacy and numeracy difficulties. He called the closures "a hammer blow to staff, to customers and to communities" and warned the vulnerable will suffer.
Engagement with the minister and consequences
Smith emphasised he had engaged the minister on NatWest's strategic review and on the wider issue through parliamentary questions and debates. He framed the recent decisions as a dramatic change in the landscape of banking services in his region with serious repercussions for rural communities and urban areas alike.
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Thank you. Two recent decisions by NatWest and Bank of Ireland will obviously have serious repercussions for so many rural communities, indeed for some urban communities as well. Minister, I engage with you over the past number of months through conversation and also through parliamentary questions and all debates as well in regard to my concerns about NatWest when they announced that they were having a strategic review of their operations in our state and their decision to exit the Irish mark would impact very severely, as we know, on staff and customers and indeed of many communities. The Borla region has had a very strong presence of Ulster Bank over the years and the recent decision will ensure the closure, will result in the closure of branches in Ballyconnell, Ballyjams, Duff and Cavan Town and Monaghan Town, four branches in my own constituency and that followed on from the bank exiting towns such as Balthorba, Kilachandr, Kinnelech and Swanabar, Clonis and Casablaenie back in 2013-2014. and also exiting Arva and Cootill in 2017. So that shows the dramatic change in the landscape of Ulster Banking services over the past number of years and now in a number of months we'd have no branches whatsoever and no presence in a lot of those towns. It's a dramatic change and it's for the worst unfortunately. The decision by the Bank of Ireland, the announcement on Monday last will result again in the closure of branches in my own constituency in Arva, Cootill, Kingsborough, Clonis and Casablaenie and it is very regrettable for staff, for customers and for local communities. It is indeed deplorable that the Bank of Ireland is making this decision during a pandemic when there has been of necessity a dramatic reduction in footfall in our towns and villages and understandably less and less people attending branches, people following public health guidelines. This means a further dramatic reduction in banking competition and shows no regard for staff and local communities who've been loyal to the Bank of Ireland over many, many decades. The towns that I mentioned there, where the Bank of Ireland will close branches, Arva, Cootill, Kingsborough, Clonis and Casablaenie are all good market towns, thankfully, with substantial employment. Here in some of those towns there will be no banking facility whatsoever. Post-Covid, we all hope that there will be an opportunity to create more jobs in rural Ireland through people being afforded the opportunity to work from home and from digital hubs. And at the same time, when we are encouraging private employers and the public service as well to set up, to give opportunities for employment in rural Ireland in our smaller towns and villages, here we have major institutions exiting those towns, exiting those villages and depriving communities of a necessary banking service. The Financial Services Union made the very strong point that the Bank of Ireland decision will result in the removal of vital services from elderly people, people with no internet access. It will remove services from people who lack confidence in doing business online, people with literacy and numeracy problems. And again, it's a hammer blow to staff, to customers and to communities. And again, the vulnerable people will suffer. Thank you. Thank you. Thank you.
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