ULSTER Bank is to lay off 266 staff as the pandemic pushes more transactions online and lenders seek to cut costs in an era of ultra-low interest rates. It comes as KBC Bank said it plans to close a quarter of its branches, prompting fears that other banks will follow suit with large-scale branch closures, and job losses. Ulster Bank said 213 of the lay-offs would be in the Republic, with the rest in the North. The KBC move has been prompted by a marked increase in online banking activity by customers. KBC Bank said it was to close four of its 16 branches, or hubs.

Source: Irish Independent September 10, 2020 12:22 UTC