The Ulster Unionist Party’s Finance spokesperson Leslie Cree MLA and Economy spokesperson Sandra Overend MLA have expressed their concerns at the Ulster Bank’s recent announcement of job losses and branch closures. 

Following this morning’s meeting of the Stormont Finance committee, North Down representative Mr Cree said;

“Yesterday’s Ulster Bank announcement of 850 job losses in addition to the 950 announced in January 2012, taken together with the news that 40 branches are to close - mainly in rural areas - by the end of 2014 will be viewed with dismay and alarm by many customers and staff.

Although this will apply on both sides of the Border, there is no question it will have a major impact in Northern Ireland. 

The Chief Executive’s comments that the group is moving towards “a streamlined footprint … focussed on urban centres” will rightly be viewed with alarm by the many customers in rural areas who rely on the Ulster Bank and the branch network. I believe there is also an issue regarding more elderly customers who may not be as comfortable operating Internet banking.

As a result, the Finance committee has resolved to call in Ulster Bank Executives for a meeting, and it is hoped that this can be arranged for as early as next week. “

Mid Ulster representative Sandra Overend said

Obviously the Ulster Bank is a private company which needs to make profit for its shareholders and which is entitled to make commercial decisions having reported a £1bn loss in 2012.

However, as part of the Royal Bank of Scotland Group the Ulster Bank has also benefitted from a massive taxpayer funded bailout of over £14 billion and has wider responsibilities.

Furthermore, the Bank has a major responsibility to both its customers and staff. Customers deserve to know that they will be able to avail of a branch network and require certainty over proposed closures. Staff obviously both require and deserve certainty regarding their jobs.

The memory of the chaos caused to customers by last summer’s IT failure is also still fresh in the minds of the general public. The RBS-owned Ulster Bank needs to rebuild bridges and relationships with its staff and customers and I am not convinced that this is the way to go about doing so.”