Ulster Bank must focus on long-term investment to support customers and staff

Issued : 5 August 2016

The Financial Services Union (FSU) is calling upon Ulster Bank to refocus on its Irish business with a long-term investment strategy.  The call follows the publication of the bank’s half-yearly performance which revealed a €155m profit in the Republic of Ireland.

The FSU is also asking the Chief Executive of RBS (which owns Ulster Bank), Ross McKeon, to reaffirm RBS’s commitment to Ulster Bank and to stop cutting costs which undermine front line services to customers. 

FSU Senior Official, Gareth Murphy, said:

“Ulster Bank staff are working incredibly hard in the context of massive restructuring and job losses to deliver a quality service.  In recent years 1,000 jobs have been lost across the island and a further 100 have been cut in Ireland this year.

“To date the bank’s drive to cut costs and staff has undermined customers’ experience and front line services.  If the bank is serious about long-term investment it needs to engage with customers and staff, and detail its plans.  In the meantime staff will continue to support customers to the best of their ability and represent their interests.”

FSU General Secretary, Larry Broderick, added:

“I welcome Ulster Bank’s headline profits of €155m and am encouraged that the bank’s income and underlying performance are improving. 

“To maintain this recovery, RBS needs to reaffirm its commitment to Ulster Bank in Ireland with a long-term investment strategy that enables staff to deliver the bank’s pledge to be number one for customer service. In that context I am asking the RBS Chief Executive to share his vision for the bank’s future.”