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O’Reilly expresses regret at Ulster Bank’s departure from Cavan/Monaghan region and Ireland

19th February 2021 - Senator Joe O'Reilly

Cavan Fine Gael Senator Joe O’Reilly has expressed his regret that Ulster Bank has decided to leave the Cavan/Monaghan Region and the wider Irish market after 160 years.

Senator O’Reilly, Leas Cathaoirleach of Seanad Éireann, said, “Whilst this decision has been heavily hinted at and speculated upon for some time it is nonetheless a shock.

“It will cause a lot of upset to very loyal Ulster Bank customers, especially in our own Cavan/Monaghan Region. Ulster Bank was a really iconic local brand and commanded great customer loyalty. Customers have strong personal relationships with their local Branch and its staff, and will be concerned about where they go from here.

“Whilst the phased basis of withdrawal provides some comfort, it also leads to uncertainty and stress in the absence of a clear timetable. People want clarity and clear timelines so they can plan their affairs – especially business and farming customers” Senator O’Reilly said.

“I will be reaching out to the CEO of Cavan Monaghan Education and Training Board, my colleagues in Government, and other state agencies, to ensure that there is proactive engagement with Ulster Bank staff in terms of options to retrain and upskill, and so that they can be supported and mentored in that process” Senator O’Reilly stated.

“I do welcome the fact that discussions are taking place with AIB and PTSB about their potential interest in certain Ulster Bank operations, which signals a potentially important development for the Irish banking sector.“I would encourage our remaining core Banks not to diminish any further their own services that remain in rural Ireland and will relay that message to my colleagues in Government.

“I will also be asking my colleagues in Government to give An Post and our Credit Union network more scope to provide a greater range of services, both in their own right, and in partnership with other institutions” concluded Senator O’Reilly.

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