AIB is investing €40 million upgrading almost two-thirds of its 170-branch network by the end of next year, saying the work will reduce the group’s carbon emissions by a further 10 per cent as it targets being net zero across its own operations by 2030.
The bank said in a statement that the investment — which includes 35 refurbishments — “demonstrates AIB’s commitment to maintaining its branch network and cash services, supporting the aims of the Government’s recently published national payments strategy”.
‘Hospitality demand is there, but there is no margin anymore’
The move comes two years after the bank was forced to reverse a plan to turn 70 of its branches cashless after fielding what chief executive Colin Hunt said at the time was an “unprecedented” volume of complaints — even as customers increasingly use digital platforms for their day-to-day banking.
Mr Hunt vowed at the time that the abandoned plan would not be revisited as long as he is chief executive.
“While the vast majority of our customers manage their day-to-day finances, when they want and where they want digitally, we recognise that they also value the face-to-face service provided in our branches, particularly when it comes to important financial decisions and support,” said Geraldine Casey, managing director of AIB’s retail banking division.
AIB, which has one more branch than its nearest rival, Bank of Ireland, serves three million customers and employs 10,000 people throughout the Republic. The two banks have cut their number of outlets since the financial crash, while a slew of overseas lenders, from Bank of Scotland (Ireland) to Ulster Bank, have exited the market.
AIB has a target of reducing its so-called scope one and scope two emissions targets, covering direct emissions controlled by the bank and indirect ones associated with the purchase of electricity, heating or cooling, by 2030.
The lender, which is now just under 21 per cent State-owned, is due to issue a trading update on November 5th.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
