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Tuesday 3 October 2023 Dublin: 14°C

# The Banks

Last year
2022
Exiting Ulster Bank gives customers six-month 'deadline' to repay their overdrafts
But bank officials said the lender will remain flexible and urged customers having difficulties to come forward immediately.
Competition authority launches full probe into Permanent TSB's €7.6 billion Ulster Bank deal
The investigation will determine whether the proposed acquisition could lead to a substantial lessening of competition in the State.
Flurry of announcements caps off noteworthy week for Irish banks and their customers
Stakeholders say the industry is staring down the barrel of one of the biggest logistical challenges in its history.
Is your bank exiting the market? Take action soon, experts say. Here's what you need to know
A report by
Ian Curran
Ulster Bank and KBC Bank are in the process of winding down their Irish operations as announced last year.
Ulster Bank and KBC Bank are in the process of winding down their Irish operations as announced last year.
Concerns have been raised in recent months about the scale of the logistical challenges involved.
Consumer experts say customers have time to sort out new arrangements but they should "take action" soon.
Ulster Bank gives current and deposit account customers six months' notice to switch providers
Separately, KBC Bank announced yesterday that from June, customers will get 90 days’ notice to move their accounts.
Banks 'ill-prepared for the biggest logistical challenge in Irish banking since the euro'
A report by
Ian Curran
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be “the perfect storm” for the remaining banks.
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be "the perfect storm" for the remaining banks.
Over one million customers will have to choose a new provider and switch over their current accounts.
But the Financial Services Union believes significant customer service issues are likely to arise, Ian Curran reports.
Is your bank exiting the market? Take action soon, experts say. Here's what you need to know
Ulster Bank to write to customers, giving them six months to close current and deposit accounts
It’s part of the NatWest-owned bank’s phased withdrawal from the market in the Republic of Ireland, announced in February 2021.
Bank of Ireland reports a pre-tax profit of €1.4 billion for 2021
Bank of Ireland CEO Francesca McDonagh said it delivered its “strongest performance since the global financial crisis”.
All time
State to sell 15% chunk of its AIB stake over the next six months, Donohoe announces
The plan is similar to the one used by the Government to sell part of its remaining bailout-era stake in Bank of Ireland.
Bank of Ireland fined €24.5 million for IT failures that had potential 'serious' customer impact
The failures could have led to customers being denied access to basic banking services.
Regulator to pursue former Permanent TSB executive in first individual tracker mortgage probe
The bank reached a €21 million settlement with the Central Bank in 2019 in respect of 42 regulatory breaches.
Anglo's collapse has had an outsized impact on Irish life and so will Seán FitzPatrick's legacy
The former chairman of the collapsed bank never felt he had anything to apologise for.
Competition watchdog launches full probe of Bank of Ireland proposal to buy KBC Bank loans
The CCPC said an in-depth investigation was required to determine whether the deal would weaken competition.
Any return of bonuses for top bankers 'would not be acceptable' to staff and public
The FSU has sought a meeting with Paschal Donohoe over plans to sell the State’s stake in Bank of Ireland.
Bank of Ireland buys most of Davy Group for €440 million
The firm was put up for sale earlier this after being rocked by a €4.1 million regulatory fine.
Ireland's bank network 'is being destroyed' says FSU after AIB announces 15 branch closures
AIB cited the “unrelenting shift” to digital banking as one of the reasons for the branch cull.
Hundreds of jobs in Dublin to go as Deutsche Bank moves to cut its Irish workforce
Some 250 full-time roles will be relocated while a number of contractor jobs will be cut altogether.
Banking on the short-term — The government is selling 'part' of its 13.9% stake in Bank of Ireland. But why now?
Finance minister Paschal Donohoe announced the six-month sale process yesterday.
House prices, debt and uneven recovery: What are the biggest risks to the Irish economy according to the Central Bank?
“A clearer path to recovery” has become visible in recent months.
'Lingering resentment': Public trust in Irish banks remains low after 2008
But trust levels have improved substantially among younger customers since the crash.
Ulster Bank topped the Financial Ombudsman's complaints table in 2020 for the second year in a row
The watchdog also received 492 new complaints about tracker mortgages in 2020.
Ulster Bank fined €37.8 million for its 'unacceptable' handling of tracker mortgage scandal
It’s the largest fine the Central Bank of Ireland has ever handed out.
'Breaking the link': Ireland's corporate accountability regime set for major overhaul in the wake of Davy scandal
The Central Bank wants an expanded regulatory toolkit to tackle individuals.
Permanent TSB reports a pre-tax loss of €166 million in 2020 as Covid hits new lending
The 75% State-owned bank took a loan impairment charge of €155 million.
'A landmark deal': AIB agrees to buy stockbrokers Goodbody for €138 million
The bank says the move will diversify its revenue streams and address gaps in its customer offerings.
Here's the full list of 103 Bank of Ireland branches set to shut across the island
The branch network in Ireland will reduce from 257 to 169 and from 28 to 13 in Northern Ireland.
Central Bank to ensure Ulster Bank customers are treated fairly, as it moves to pull out of Ireland
The bank is already in discussions with PTSB over the sale of Irish assets.
Ulster Bank said this morning that the move won’t mean an immediate change for customers
Staff are "deeply disappointed" by the decision to wind down Ulster Bank in Ireland
Minister for Finance Paschal Donohoe called it a "difficult day" from an Irish banking perspective and for Ulster Bank staff
Ulster Bank exit is 'not good news for Ireland', says Taoiseach
The Government’s priority is to protect the 2,800 workers affected by the decision, Micheál Martin said.
Ulster says go: Bank's decision to exit was in the wind — but why is it happening now?
Ulster Bank’s long goodbye creates major headaches for policymakers.
Government to explore creating a 'third force' in Irish banking if Ulster Bank exits Irish market, says Varadkar
A formal announcement is expected on Ulster Bank’s operations in the Republic of Ireland tomorrow.
Banking Federation says capital requirements here are making lending and mortgages more expensive
Irish mortgage applicants face some of the highest interest rates in Europe.
Irish banks want to take on Revolut together — but why has the competition watchdog 'rejected' them?
Why has it taken so long for Irish banks to address competition from fresh-faced fintech companies?
Hopes for a swift economic recovery in 2021 have faded, says ECB
A resurgence of the virus has weakened euro area growth forecasts.
KBC Bank pushed into €41 million loss for 2020 despite positive third quarter figures
However, the Belgian-owned bank saw a ‘record number’ of mortgage applications in the third quarter.
Ulster Bank tells Donohoe 'no decision' yet taken on its future amid reports it could be wound down
The Minister for Finance met with representatives from Ulster Bank today.
Banking Culture Board not commenting on individual reports after KBC's €18.3 million fine
Central Bank investigations into three other banks are ongoing.
KBC Bank fined €18.3 million by the Central Bank over tracker mortgage scandal
The Central Bank said the impact on customers was ‘devastating’.
Ulster Bank plans to cut 266 jobs to reduce costs
The bank suffered a loss of €276 million in the first six months of the year.
Union seeks 'urgent' WRC intervention over Bank of Ireland's plan to cut workforce by 1,400
The Financial Services Union has written to the WRC seeking conciliation.
'There are people working in their bedrooms keeping the banking system going and this is their reward'
Bank of Ireland redundancies ‘surprised’ the general secretary of the Financial Services Union.