Ulster Bank has announced that 14 branches will close in the Republic of Ireland in the new year, with a further 10 closing in Northern Ireland.

The closures will leave Ulster Bank with a network of 111 branches in the Republic of Ireland, and 74 branches in Northern Ireland, where it has the most extensive branch structure of all banks. The branches to close are in Ashbourne, Athy, Athboy, Ballinrobe, Castleblayney, Castlerea, Clones, Croom, Ferbane, Loughrea, Manorhamilton, Moville, Roscrea and Wicklow town.

The people of west Offaly are very exercised by the fact that they have lost further banking facilities in the area. Ulster Bank was the only bank left in Ferbane.

IFA Offaly chairman John Keena believes a number of commitments have been broken. “Ulster Bank said they would not close a branch where it was the only bank left in a town, but this is what they are about to do in Ferbane,” he said. “Furthermore, a specific commitment was given when other services in the area were removed to keep the Ferbane branch open.”

Previously, branches in Shannonbridge and Kilcormac were closed. A mobile service was introduced, but this was discontinued, with the promise to keep Ferbane open.

The nearest branch now is in Athlone, 20 miles away. “A local businessman went to Athlone first thing in the morning recently, parked, did his banking as he would have in Ferbane, and returned home. It took two hours,” said Keena. “This is not acceptable, and it’s not sustainable for a small business.”

Keena adds that the impending loss of an ATM in Ferbane will be a hammer blow. An ATM with the facility to accept lodgments is an essential facility in any small town, he believes. “My understanding is that the Ulster Bank ATM is dispensing around €150,000 every week (€7.8m a year),” he said.

All the major banks have restructured their branch network since the downturn, with significant branch closures. Bank of Ireland now has 250 branches in the Republic, with 37 in Northern Ireland. AIB has 200 branches in the Republic, and 30 in Northern Ireland.