Ulster Bank is to withdraw operations from the Irish Market.
The NatWest group confirmed the move this morning. An “orderly phased withdrawal” is due to take place over a number of years.
Ulster Bank has 2,800 employees in 88 branches in the Republic, but stated that there will be no new compulsory redundancies this year.
There are five Ulster Bank branches in Co. Donegal, in Killybegs, Donegal town, Ballybofey, Letterkenny and Buncrana and a mobile unit based in Donegal Town.
Existing and new customers have been told that there will be no immediate changes to services.
A statement on UlsterBank.ie tells customers: “There is no immediate impact on your products and your day to day banking, simply continue to bank with us as normal. We commit to keeping you updated and assure you that we will provide advance notice of any changes to your future banking services as a result of this decision.”
Customers are also being warned to be on alert for scams related to today’s announcement:
“This decision may prompt fraudsters to attempt to take advantage of the situation. We will ensure all security measures continue to keep you protected. Please stay alert and watch out for scams and for more information please visit our security centre.”