Ulster Bank chief executive Jim Brown has warned that there may be further bank branch closures during his appearance in front of the Northern Ireland Affairs Committee.
Brown, who appeared alongside head of Ulster Bank NI Ellvena Graham told the committee that customer behaviour is "changing rapidly" as increasing numbers of people adopt online banking:
Go deeper with GlobalData
"There has been a huge shift over a very short period of time to that area, and it’s not just in terms of transactions, it’s customers opening accounts and so on
"There have been some changes to the branch network as the result of that – some closures – and I expect, over time, there will be more, but it is really driven by customer demand."
The Northern Irish bank closed some 22 branches and sub-offices in 2013. RBS, parent company to Ulster, is currently carrying out a business review, with the outcome expected "sometime over the next months".
The Affairs Committee is staging an inquest into how local banks operate and their dealings with businesses.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFirst Trust chief executive Des Moore also appeared agreeing with Brown about the move to online banking. The bank has closed 11 branches and four sub offices over the last four years.
