Quarter of bank branches to close in two years
16/07/2012 - 07:16:11
One in four bank branches across the country is to close as part of a major shake up of the retail banking industry.
It is reported that AIB, EBS, Ulster Bank and Permanent TSB will close 200 branches over the next two years.
It is also claimed that these closures will lead to the loss of thousands of jobs, over and above those that have already been announced.
It will mean that banking services in rural areas in particular are reduced as many of these branches are loss-making.
During the boom, smaller outlets were able to stay profitable by selling mortgages, but this stream of business has collapsed.
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