Joint press statement from PTSB Group of Unions, Unite, Financial Services Union and Mandate on the sale of PTSB

The announcement by the board of PTSB that it has accepted a bid of €1.618 billion from BAWAG for the purchase of the bank brings closure to the constant speculation about the future ownership of PTSB.

The group of unions (Unite, Financial Services Union and Mandate)  who represent employees in PTSB are meeting with senior management in PTSB tomorrow.

Commenting on the announcement a spokesperson for the three unions said:

“Our members’ priorities are clear. Unions will emphasise three key requirements in all future meetings with PTSB and BAWAG management:

• Ensure PTSB’s long-term viability as a third banking force, providing real competition for both retail and business customers following the exit of Ulster Bank and KBC from the market
• Maintain the existing branch network and employment levels
• Secure quality jobs into the future, including retention of collectively agreed terms and conditions

PTSB staff, including those working in branches around Ireland, are central to delivering a high-quality customer experience. If BAWAG are successful with their bid they need to maintain a strong branch network and commit to securing quality jobs into the future.

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