In a statement First Trust said it has taken the “difficult decision” to close 15 branches on a phased basis during summer 2017.

The bank said part of the reason for the closures is the way in which people use and interact with banks. “This is changing rapidly,” it said. “Since 2010, we have seen the number of customers using our bank branches decline by almost 40% coupled with a 117% increase in our mobile transactions over the past two years.

“As a result of these changes, we’ve undertaken an 18-month strategic review to look at ways in which we can best meet the needs of today’s customer while maintaining a successful and sustainable business.”

The bank added that it will be working hard to minimise the impact on the customers and staff concerned.

£10m investment strategy

The review will also see a £10m investment strategy for personal and business customers, including five new business centres across the province. These will be located in the bank’s Ballymena, Dungannon, Enniskillen, Derry and Newry branches.

The bank has also agreed a partnership with the Post Office that will enable customers to conduct their everyday banking transactions in any of the 500 Post Offices across Northern Ireland.

In addition to this the bank will be significantly extending the hours for its Direct Customer Contact Banking services

The branches to close are:

Antrim: 7 July

Andersonstown: 7 July

Armagh: 7 July

Banbridge: 4 August

Cookstown: 30 June

Crescent Link, Derry: 7 July

Downpatrick: 28 July

High Street, Belfast: 4 August

Knock (Upper Newtownards Road): 28 July

Magherafelt: 28 July