More post office and bank closures threatened

An unpublished report has recommended the closure of at least 80 post offices around the country. The leaked review of the future strategy of An Post came today within hours of reports that Ulster Bank is planning to close up to 30 branches in its network. Together, the reports deliver a double blow for rural Ireland and raise concerns for the protection of local services.

An article in the Irish Independent cited the “unpublished review” as having proposed the rural Post Office closures in a bid to stem losses of up to €12m across its branch network.
However, An Post moved to allay any fears, commenting that the reports did not come from them. “We are currently completing the first detailed, in-depth review of the Post Office Network for many years. This review will take into account shifting demographics, the changing marketplace for services and the economics for postmasters. No decisions have been made while this review is ongoing,” An Post said in a statement.
There are currently 1,300 post offices around the country and An Post added that the review will be completed in the coming months.

Ulster Bank review

Meanwhile, the Ulster Bank move follows a review of the bank’s operations by global consulting firm McKinsey, which was engaged by the bank’s recently installed chief executive, Gerry Mallon.
The bank, which previously closed branches in Belturbet, Killeshandra, Kilnaleck in Co Cavan; Clones and Castleblayney in Co Monaghan, as well as branches in neighbouring Leitrim, Longford and Westmeath, currently has 110 branches in the Republic.
Ulster Bank still has five branches in the county in Cavan Town, Cootehill, Ballyconnell, Ballyjamesduff, Arva
Ulster Bank in Northern Ireland, which operates separately from the business south of the Border, is believed to be considering closing some of its 65 branches.
Staff have yet to be informed of the details of the rationalisation programme, although officials from the Financial Services Union (FSU) are due to meet management later this month for an update on its plans.