EBS BRANCHES MAY be closed down as part of a forced merger with AIB as a method of achieving cost savings, according to a senior industry source.

The Sunday Business Post reports that the branches could be quickly closed down as part of the consolidation of the two institutions. The source told the newspaper: “You just give them notice – no compensation”.

EBS currently employs about 650 people and has almost 100 offices across the country.

The merging of AIB and EBS was ordered by Finance Minister Michael Noonan – and the combined institutions are expected to need an injection of almost €15 billion from the state. The merged institutions also plan to shed about €25 billion worth of assets over the next three years.

Read John Ihle’s report in the print version of the Sunday Business Post >

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EBS branches may be closed down in AIB merger

Read John Ihle’s report in the print version of the Sunday Business Post >

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.