/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
88 Bank of Ireland branches close for last time today

88 Bank of Ireland branches close for last time today

More than a third of Bank of Ireland's branches will close their doors for the final time today as the lender adjusts to a digital tipping point.

Announced in March, the bank is to shutter 88 outlets in the Republic, reducing its network from 257 to 169, while in Northern Ireland the network will be reduced by 15 from 28 to 13.

The move is expected to generate €26 million in annualised cost savings.

Bank of Ireland says that Covid-19 has accelerated the shift away from branches, with 70% of customers now digitally active, with a 26% increase in customers registering for the new mobile app since launch.

While most of the branches being closed have nearby post offices where customers can carry out some transactions, some customers will be forced to travel several kilometres.

According to RTE, customers that use a branch in Ballyhaunis will now have to travel to Claremorris or Castlerea, both around 20km away.

Local businesses are staging a protest outside of the soon-to-close branch today, says RTE.

Comments: (1)

Bo Harald
Bo Harald - Transmeri, Demos, Real Time Economy Program,MyData - Helsinki Region 08 October, 2021, 14:57Be the first to give this comment the thumbs up 0 likes

Must happen on an even wider scale. Too expensive and needed by very few - even if all customers pay the cost.