Retains the country’s largest bank network with 170 branches, ensuring a branch in 95% of locations that Ulster Bank and KBC are leaving
AIB head office, Leopardstown, Dublin. (Credit: Aib editr/Wikipedia)
AIB today announces an investment programme of over €40 million, which includes support for the bank’s deepening relationship with An Post and completing the hiring for 500 digital roles by year end. While maintaining its full complement of 170 branches nationwide, the bank confirms that 70 of these will be repurposed to focus more on account opening, financial planning, mortgages, loans, savings and investments. With digital usage soaring, the cost of providing cash services has become increasingly unsustainable. As a result, cash, ATM and cheque services will be removed from these
branches but customers will continue to have efficient access to cash in their communities.
This will enable the bank to provide additional account-opening facilities as Ulster Bank and KBC leave the market, while also ensuring that its branch network has a sustainable future in the community. The hiring of an additional 500 people is primarily in digital, technology and data roles, and over 50 local hubs will be created to support hybrid working for AIB staff in their own communities. Notwithstanding the switch to digital, the bank also recognises the importance of customers having access to cash in their community.
AIB retains its 170 strong branch network
As AIB has branches in 95% of locations that Ulster Bank and KBC are leaving, the bank is freeing up capacity and has been hiring up to 700 temporary staff to welcome those customers seeking to come on board. AIB has experienced a consistent upward trend in account opening in recent months as Ulster Bank and KBC have stepped up their preparations to withdraw from the Irish market.
Already this year, AIB has opened 207,721 bank accounts, a 110 per cent increase since the start of 2022. For the week ending July 3rd, AIB opened 11,231 new accounts in total, up c. 110% on the average weekly run rate in 2021.
AIB’s Managing Director of Retail Banking, Jim O’Keeffe, said “How customers want to bank with us is undergoing a huge transition as digital usage is soaring. At AIB we are responding to that digital transition, maintaining the largest branch presence across Ireland and providing alternatives for customers to access cash and payments in their communities. With all this in mind, AIB is retaining its 170 strong branch network across the country, while repurposing some branches. We are also expanding our 20 year partnership with An Post which provides cash and payment services in the
community. This, along with access to 4,000 ATMs nationwide and cash back at many of the 25,000 AIB Merchant Services terminals, provides a unique way to sustain our presence in the community and meet customers’ changing needs. We are also investing in 500 roles in our digital teams and creating 50 new hubs for local AIB employment in those communities.”
Source: Company Press Release