Bank of Ireland to close three branches in Meath

Bank of Ireland is to close 103 branches across the island of Ireland include three in Meath.

Its branches in Athboy, Enfield and Ratoath will close as part of the bank's plans to reduce its network in the Republic by about a third and its locations in the North by more than half.

88 branches in Ireland and a further 15 in Northern Ireland from September.

Bank of Ireland has branches in Ashbourne, Athboy, Dunboyne, Dunshaughlin, Enfield, Kells, Navan, Oldcastle, Ratoath and Trim.

The planned closures come as Bank of Ireland disclosed an underlying loss of €374m for 2020 that reflects the large losses it made on impaired loans during the Covid financial crisis, although the lender said it had returned to profitability in the second half of the year.

Bank of Ireland said there will be no compulsory redundancies as a result of today's decision to close branches nationwide

RTE reports that Bank of Ireland has agreed a new partnership with An Post which will offer Bank of Ireland customers banking services at more than 900 locations across Ireland.

This will include over the counter cash and cheque lodgements and cash withdrawals, with longer weekday opening hours than traditional bank branches as well as Saturday opening.

It said the closing Bank of Ireland branches all have a post office within, on average, less than 500 metres.

The decision to include the Bank of Ireland branch in Athboy, Enfield and Ratoath had been described as ‘crippling’ to the local areas by local Senator Shane Cassells.

Slamming the decision to close 88 branches he said that rural areas such as Athboy and Enfield were attacked by this decision and that the implications were broader than just the closure of a physical building.

“The cloak of Covid has been used to cynically implement a plan that has been on the boil for quite some time,” slammed Senator Cassells.

“This is a physical withdrawal from rural Ireland and that is the statement the bank is making by this action and one they can’t hide from.

“No amount of fancy PR spin can dress their despicable actions up in any other way. The closure of a bank in a small town is a crippling blow.

“Bank of Ireland have said they have a deal for their customers to bank at the local post office, which in itself is an admission that people require counter services and that all banking cannot not be done online.

“Small businesses also require the services of their local branch and now more than ever because of the stress they are under.”

Meath East TD Darren O'Rourke said;

“This is hugely disappointing news from Bank of Ireland today.

“The CEO of the bank gave a drop in footfall over the past year as one reason they are closing these branches.

“This makes no sense whatsoever, as people have been told to stay at home for most of the past 12 months.

“I think it’s quite a cynical move, using the pandemic as cover for the bank to increase their profits by reducing consumer interaction.

“Athboy, Enfield and Ratoath set to close in Co. Meath, and I feel hugely for the workers involved, many of whom are known well and trusted by local customers.

“The Ratoath branch serves a population well in excess of 10,000 people for example.

“I think the need for local services will increase post-Covid, as we can expect to see more people working from home and spending more time in their local communities, all the more emphasising that this is a strategic and regressive move."

Fianna Fail Cllr Aisling Dempsey commented that:

"Terrible news today that another bank are closing a significant number of branches. Thankfully no compulsory redundancies were announced. I will be writing to Bank of Ireland today to ask them to reconsider and to keep these branches open and actively used as hubs or “Workbench” locations.

Workbench is a unique concept which connects entrepreneurs, Branch, and community by offering free dedicated space for co-working, seminars, clinics and events to encourage innovation and new ideas.

"Some of our BOI branches are historic and beautiful buildings, key features of our main streets and must be protected."