Fianna Fáil TD for Cavan-Monaghan Brendan Smith has said that the decision by NatWest to withdraw Ulster Bank from the Irish market will “impact severely on staff, customers and many communities throughout the country.”
Deputy Brendan Smith commented, “I very much regret the decision by NatWest to withdraw Ulster Bank from the Irish market.
“Ulster Bank has had a strong presence for most of 200 years in our country and it has had a particularly vibrant business presence in the border region including areas like Cavan and Monaghan.”
Deputy Brendan Smith added: “For months, since NatWest initiated the strategic review of Ulster Bank’s operations, I had raised concerns through various Dáil debates in relation to the future of the bank. Every possible protection must be put in place for all staff and, indeed, for the rights of customers as well. This move is also set to drastically reduce banking competition in our State.”
Ulster Bank has 88 branches across the State and has more than 2,800 employees.