Ulster Bank staff members are expected to hold 15 meetings across the country to discuss concerns over further job cuts and branch closures at the bank.

The bank has now has 5,800 staff and they are concerned over the uncertainty in the bank's future plans. The bank's hundreds of thousands of customers are also concerned over the prospects for the bank, according to the Irish Bank Officials Association (IBOA). Ulster Bank, which is owned by the Royal Bank of Scotland (RBS), announced that it is committed to the Irish market but pointed out that it will have a smaller presence in the market.

The bank did not announce the number of jobs that might be slashed in the country and the number of branches that will be closed in the country. There are indications that the bank might be ready to accept a merger or alliance with third-party investors for its operations in Ireland. The bank might be looking to enter into a deal with KBC, Danske Bank or Permanent TSB.

IBOA said that it will organise hold 15 meetings for Ulster Bank members in the Republic and Northern Ireland during the coming few weeks.

Source: Top News