Bank of Ireland to close over 100 branches including Ballyfermot branch
By Maurice Garvey
BANK of Ireland announced plans to close over 100 branches from the end of September, including it’s Ballyfermot branch.
The branches closing are predominately self-service locations with no counter service, according to Bank of Ireland.
The Ballyfermot Bank of Ireland branch will close under the announcements
They said a new partnership with An Post means Bank of Ireland customers can avail of banking services at their local post office, with more than 900 post office locations across the country.
An Post will offer personal and SME withdrawal and lodgement services to Bank of Ireland customers across the An Post network nationwide.
Bank of Ireland said the changes are in response to significant trends in how people are banking.
They said footfall at the closing branches is down on average by 60 per cent since 2017, while digital banking has now reached a “tipping point.”
The Bank will continue to operate 169 branches, including 43 in Dublin.
There will be no compulsory redundancies as a result of today’s decision to close branches nationwide.
Bank of Ireland reported an underlying loss before tax €374m for the year to the end of December, reflecting the €1.1 billion it set aside to deal with potential bad loans arising from the Covid-19 pandemic.
The group said it returned to profitability in the second half of the year.
With regard to concerns for elderly customers over the branch closures, BOI have a dedicated support line for over 65’s on 1800 946 146 (open 9.30am to 4.30pm, Mon-Fri).
Gavin Kelly, CEO, Retail Ireland, Bank of Ireland said they have reached a “tipping point between online and offline banking.”
“Between 2017 and 2020 footfall at the branches which are closing dropped by 60 per cent on average. And even before Covid-19, branch footfall had reduced by almost a quarter over two years. Our mobile app is our busiest channel, 430k customers log in each day, and traffic is up one third since 2018.
“That’s why we’ve announced changes. We’re changing our branch network so it meets today’s demand, but we doing this in a way that protects local access to physical banking for those who want it through a new partnership with An Post. This ensures continuity of services locally for both personal and business customers.”
The bank said no branches will close in the next six months which will ensure the An Post partnership is up and running before any branches closes.
They said they will communicate fully with customers and the changes will allow them to invest in other branches in the county as well as digital services.
For furter details on the branches affected click on the Bank of Ireland website HERE.
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