Byrne Slams AIB Bank Closures

Fianna Fáil Senator Thomas Byrne has said that South Meath has suffered a double blow with the new that two AIB branches are to close.

In addition to this thousands of local mortgage holders will be stung with higher interest rates following an announcement by the State owned bank last week.

"AIB's decision to hike mortgage interest rates is completely unacceptable given that the ECB rate is at its lowest level ever," said Senator Byrne. "It will put even more pressure on AIB mortgage holders in South Meath and across the country, many of whom are already in serious difficulty with their mortgages. Homeowners with an average sized mortgage will now see their annual payments increase by over €1,000.

"Local bank branches are a pivotal part of so many communities across Co Meath. While I recognise that there is a growing trend of online banking, customer service must remain a top priority for banks. There will be a direct loss if business in Dunshaughlin and Dunboyne as a result of this decision. These were busy outlets. In fact, I often received complaints about the queues being too long in these branches.

"I am calling on AIB to revisit these commuter belt closures in their own interests at least. Dunboyne and Dunshaughlin are two of the areas still experiencing population growth and a proper banking service would be of mutual benefit," said Senator Byrne.

Related Northern Ireland Business News Stories
Click here for the latest headlines.

08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
10 November 2009
Banks Relent To Help Debt-Hit
Ireland's banks have succumbed to Government pressure to offer a moratorium on debtors. The ten biggest mortgage lenders in Ireland finally pledged today to offer homeowners more time to pay back arrears before taking legal action against them.
02 September 2011
Honohan Calls On 'Banks To Re-Vamp'
The Irish Central Bank Governor, Patrick Honohan, has called on banks to re-vamp their methods of dealing with the growing problem of mortgage arrears. Speaking at the Oireachtas Finance Committee, he said some would undoubtedly resume paying their mortgages, but some just will not recover.
07 August 2009
Mortgage Repossession 'Last Resort'
It has emerged that new legislation will require that judges in Northern Ireland should now see repossession proceedings against homeowners as a last resort. According to details just made public, this is part of a repossession protocol which has been announced by the Lord Chief Justice, Sir Declan Morgan.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.