First Trust Bank to close fifteen Northern Ireland branches

By David Hunter

First Trust Bank has announced it's to close 15 branches across Northern Ireland. 

The company says it will open five new 'specialist business centres' in Ballymena, Dungannon, Enniskillen, Derry/Londonderry and Newry.

In a statement First Trust said there had been a 40% drop in 'in branch' usage since 2010 - coupled with a 117% hike in mobile transactions.

The bank’s existing voluntary severance programme will be extended to impacted staff - although its unclear exactly how many jobs will be lost at this stage. 

Head of First Trust Bank, Des Moore said “Due to changing customer behaviours and trends and in particular the sizable shift from branch usage towards digital banking, First Trust Bank has undertaken an 18-month strategic review to plan how we best serve the needs of customers now and in the future.

"This included a review of all our customer service points including our branch network, with a view to reshaping for an efficient, effective and sustainable business.

"We will be working hard to minimise the impact on the customers and staff concerned. Importantly, we are planning, through AIB Group, a significant investment strategy starting with an initial £10m in our infrastructure in 2017.

"We’ve partnered with the Post Office so our customers can use the 500 Post Office locations across Northern Ireland for their everyday banking transactions. We are also significantly extending the hours for our Direct Customer Contact Banking services, delivering enhanced online and mobile services, while also investing heavily in our remaining branch network.”

@FirstTrustBank to close 15 Branches in Northern Ireland. Five new 'specialist centres' to be opened. Unclear how many staff impacted pic.twitter.com/6iScuEw84A

— David Hunter (@davidhunter7) February 22, 2017

General Secretary of the Financial Services Union, Larry Broderick says Unions will challenge the closures. 
“while staff were aware of an ongoing restructuring plan at FTB the scale of closures announced today has come as a shock to staff." he said.
"Great teams in bank branches, many who have served their community for many years, now face the prospect closure and relocation.  It is a major blow.”

“The Financial Services Union has worked hard in recent years to manage change across the banking system.  The recent pay and job security deal accepted by staff in AIB Group, which includes First Trust Bank, will ensure that there are no compulsory redundancies as a result of this announcement. 

“While opposing the scale of the closures, the Financial Services Union, will work hard over the coming months to ensure that commitments made to staff are upheld and that staff can continue to contribute to the bank and the wider Northern Ireland economy."