Investing
Ulster Bank to close ten Northern Ireland branches amid digital shift
© Reuters.
BELFAST – Ulster Bank has announced the closure of ten branches across Northern Ireland as part of a strategic shift towards digital banking. This move comes in the wake of a significant drop in manual counter transactions and a corresponding rise in mobile app usage over the past four years. The affected branches include locations in Belfast, such as Ormeau Road, University Road, and Kings Road, as well as Ballynahinch, Crumlin, Downpatrick, Glengormley, Lisnaskea, Lurgan, and one in Derry.
The closures are scheduled to take place between February and November 2024, with specific dates for each location ranging from Ormeau Road on February 20 to Downpatrick on November 19. This decision impacts twenty-one employees but the bank has stated there will be no further changes to the branch network until at least after 2026.
In response to the changing consumer preferences and external pressures like increased costs in various industries including taxi services, Ulster Bank is committing over £3 million to enhance digital banking capabilities. This commitment follows an earlier investment of £3.25 million made this year for similar advancements. The bank’s investment aims to support customers transitioning to online services and ensure they have the necessary tools to manage their finances digitally.
The branch closures in Northern Ireland mirror a previous consolidation in the Republic of Ireland where Ulster Bank closed all its branches. These changes reflect a broader trend within the banking industry towards digital services as customers increasingly favor convenience and accessibility offered by online and mobile banking platforms.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
-
Passive Income6 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles6 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles5 days ago
How to Be Unapologetically You and Why It Matters
-
Investing6 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale
-
Side Hustles6 days ago
OpenAI Raises Record $6.6 Billion, Adds 50 Million New Users
-
Investing4 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles4 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Side Hustles5 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool