Bank of Ireland announces pre-tax profits a week after revealing plans to close local branches

The Financial Services Union (FSU) has welcomed this morning’s announcement by the Bank of Ireland that it made pre-tax profits of €557m for the first half of 2016. In light of that performance, which reflects the loyalty and motivation of staff and customers, the FSU is asking the Bank to reconsider its retail strategy. Last week the Bank announced that it was going to close over 20% of its branch network in Northern Ireland, including one in Draperstown and another in Maghera (pictured). The FSU’s General Secretary, Larry Broderick, said: “Pre-tax profits of €557m is a significant achievement for Bank of Ireland, something which could not have happened without the support of staff and customers. “Given these significant profits the Bank needs to revisit its plans to close over 20% of its branches in Northern Ireland. These are vital services which are being withdrawn from local communities. The Bank must listen to local customers and political representatives given its plans to close its branches in Draperstown and Maghera. We ask Bank of Ireland to engage with the Union to review its plans and consider alternatives. “The Union proposes to meet the Bank of Ireland Chief Executive over the coming weeks to engage further on the Bank’s future strategy. In particular the Union will seek assurances on jobs and future retail strategy.”