IBOA welcomes Danske Bank's continuing commitment to Ireland

Issued : 10 February 2012

IBOA The Finance Union has welcomed the continuing commitment by Danish bank, Danske Bank, to Ireland through its Irish subsidiary, National Irish Bank, despite continuing difficulties in the Irish economy.

"Although National Irish Bank's annual results have revealed another challenging year for the Bank as a result of the collapse in the property market, Danske Bank remains committed to Ireland," said Union General Secretary, Larry Broderick,

"Furthermore, at a time when management in other banks are opportunistically exploiting the ongoing crisis to engage in further restructuring involving more branch closures and staff cuts, we welcome the comment from National Irish Bank's Chief Executive, Andrew Healy, that no redundancies are being sought in National Irish Bank. Mr Healy has also strongly recognised the positive role of NIB staff in reducing the bank's cost base by almost a third over the past two years."

"We hope that other managements will recognise that the only way to ensure the recovery of the financial services sector is through proper engagement with staff in order to meet the actual needs of customers - rather than imposing arbitrary cuts to staffing levels based on abstract mathematical ratios," added Mr. Broderick.