Union reassured on future of two Irish banks

Finance union IBOA has said it has received assurances from National Australia Group (NAG) on the issue of "rumoured job losses…

Finance union IBOA has said it has received assurances from National Australia Group (NAG) on the issue of "rumoured job losses and branch closures" at Northern Bank and National Irish Bank.

IBOA general secretary Mr Larry Broderick said the union had a "lengthy and detailed" meeting last Friday with the management team of NAG, at which it sought clarification on the future ownership of the two Irish-based banks and guarantees about staff jobs amid rumours of "widescale branch closures".

"At the meeting the bank informed IBOA that it will be January before they are in a position to make a decision on selling the banks or not," he said.

"The bank assured IBOA that they have made no decision about closing any branches or staff redundancies.

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"The bank outlined plans for proposed changes in Business Financial Services and Personal Financial Services which will only be implemented following full consultation and agreement with IBOA," Mr Broderick said.

He said the union will communicate with its members in both banks today and hoped the clarifications and assurances received from NAG "will at least bring some temporary respite for worried staff and customers".

Mr Broderick said the IBOA will meet the NAG in early December to review the situation."