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Bank of Ireland to invest €11.5 million in branch network

Bank of Ireland to invest €11.5 million in branch network

After shuttering a third of its high street outlets last year, Bank of Ireland plans to invest €11.5m million across its remaining nationwide branch network in 2023.

The investment plans include refurbishments and enhancements to its branch network, upgrading of branch services including ATMs in a number of locations, and ongoing maintenance works.

As part of this investment, Bank of Ireland also plans to install energy efficient LED lighting in each of its 169 branches in 2023. This will achieve over 50% in energy savings from a reduction in lighting energy consumption, as the organisation looks to become more energy efficient and reduce its total energy consumption.

Despite the investment plans, the Bank last year moved to close more than a third of its outlets, shuttering 88 branches in the Republic and 15 in Northern Ireland at an annualised cost saving of €26 million.

Nonetheless, Susan Russell, director, Retail Ireland, Bank of Ireland maintains: “Our branch network of 169 locations across Ireland is a very important part of how we serve our customers, whether that be for routine cash, cheque and coin transactions or more detailed conversations about loans, mortgages and pensions.”

The latest investment follows the Bank’s recent publication of plans for the largest single investment in its iconic College Green buildings in more than 200 years. As well as extensive repairs, upgrading and restoration work, the planned €36 million investment over five years includes improved facilities for customers and workspaces for colleagues.

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