A KERRY TD said he is very disappointed to learn of the planned closure of Ulster Bank which will result in the loss of close on 20 jobs in Killarney and Tralee.
Deputy Pa Daly said staff in both branches will be affected and there is also the issue of the €20.5 billion loan book.
“Given the history of vulture funds and the current actions of a Receiver on behalf of a vulture fund in Kerry, the government has a responsibility to act,” he said.
“This should include creating a third force to challenge what could otherwise become a duopoly in our banking sector,” Deputy Daly added.
Parent company NatWest said Ulster Bank, the third biggest lender in the State, will begin a phased withdrawal from the Republic of Ireland that will be managed in an orderly and considered manner.
It is reported that Permanent TSB, in which the State owns a 75 per cent stake, is in talks to acquire most of Ulster Bank’s €14 billion mortgage book and up to €1 billion of small business loans.
Ulster Bank has 88 branches, including on the junction between Beech Road and New Street in Killarney and another in Tralee.
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