THERE HAS BEEN a significant decline in activity across both Ulster Bank and KBC current accounts as the banks prepare to leave the Irish market, TDs are to hear today.
The bank is also due to detail that 91% of personal current accounts with Ulster Bank have been closed, increasing to 95% when personal deposit accounts are included. It comes over a year on from the confirmation that Bank of Ireland would acquire almost all of KBC’s performing loan assets and liabilities, as well as some deposits. in a deal worth €5 billion.
“Additionally, we have seen a significant decline in overall activity across current accounts with debit card transactions down 61%, account balances down 50% and direct debits down over 60% to 82,000,” Jansen will outline in his opening statement. KBC is also due to outline to the Finance Committee that the first wave of closures – approximately 3,000 inactive accounts – began last December.
“This means from 31st March, customers will no longer be able to make cash or cheque lodgements either at the counter or through internal automation devices or make any form of a withdrawal at an Ulster Bank branch ,” Ulster Bank will detail.
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