Sir, – The closure of the last remaining Ulster Bank branches across the country marks a sad day for staff and the communities they serve (“Ulster Bank is shutting its doors. What does it mean for the future of banking in Ireland?”, Business, April 21st).
Contrary to the opinions expressed in your article , the Post Office network is well placed to deliver quality financial services to local communities and business.
The scale of the network is enormous, with approximately 1.1 million customer visits per week and 84 million transactions in 2022, totalling €13.4 billion. 2022 saw the network return to growth and profitability after the pandemic as key business lines like Travel Money returned.
With approximately 910 branches across the country, Ireland’s largest retail network by a country mile, the post office is a vital national infrastructure offering an ever-expanding range of financial services and it plays a vital role in maintaining the supply of cash services to local communities and businesses.
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One in five adults still prefer to pay in cash.
There are 534 post offices that do not have a bank branch within a 5km radius.
There has been considerable investment in the physical network, our call centres and our digital banking mobile and app platforms over the past five years to meet the changing needs of customers.
We continue to evolve our in-branch experience for customers, with dedicated business banking counters in larger offices.
An Post administers circa €20 billion in State Savings, representing about 16 per cent of national consumer savings.
Our partnership with AIB and Bank of Ireland allows bank customers to withdraw and lodge cash in every post office six days a week. Last year, volumes were up 30 per cent year on year, with ¤2.1 billion in cash transactions.
An Post Insurance offers car, home, travel, pet and life insurance
An Post Money has seen strong growth in current accounts, credit cards and loans.
The positive impact of our enhanced partnership with the main banks and the growth of An Post Money’s own range of products recognises the needs of local communities and helps underpin the future sustainability of the post office network. – Yours, etc,
DEBBIE BYRNE,
Managing Director,
An Post Retail,
Dublin 1.