Bank of Ireland has confirmed that this week’s decision to close a significant proportion of its branch network across the country over the coming months will have no impact on the range of bespoke services that it offers the farming industry.
Bank of Ireland confirmed on Monday (March 1) that it is to close 88 outlets in the Republic of Ireland and a further 15 in Northern Ireland this year.
A spokesperson for the bank told AgriLand:
“The agriculture sector is a key one for Bank of Ireland, and that will remain the case. There are no changes to any of our agri-lending products.
“We are committed to this sector as the largest lender, on a customer basis, to the agri industry, banking approximately 40,000 farming customers, as well as offering 52% of all new lending to farmers.
Agri and farming customers have also predominantly moved online to cater for their banking needs, with 80% of all agri loans under €120,000 now applied for online or by phone.
The spokesperson added:
“We have invested heavily in a dedicated agri team, who now support over annual 1,000 farm visits along with a team of highly skilled agri lenders who understand the needs of our farming customers.”
Bank of Ireland in NI
The same principles will also hold in Northern Ireland. A spokesperson for Bank of Ireland (UK) said:
“Our agribusiness services will not be impacted by the branch closures. Bank of Ireland is one of the main lenders to the agri sector in Northern Ireland.
We have a range of products and services suited to our agri customer needs which we will continue to deliver without impact.
The spokesperson continued:
“We have a dedicated agri manager who, with the support of highly skilled agri lenders, carry out many farm visits every year and understand the needs of our farming customers.
“Overall the agriculture sector is a key one for Bank of Ireland, and that will remain the case.”