Louth Labour TD Ged Nash has welcomed confirmation that the Ulster Bank branch in Ardee will remain open under plans by Permanent TSB to buy the bank’s Republic of Ireland business.
The Labour Party’s Finance spokesperson said;
“Earlier this year, Ulster Bank announced its plans to exit the Irish market.”
“I was always of the view that the optimum arrangement arising from this decision was for Permanent TSB to in essence take over the business.”
“I am pleased that this move has today moved an important step closer.”
“I have engaged from the start with the Financial Services’ Union and I have always made it clear to the banks that transfer of undertakings laws must be respected and that bank branches must be protected and jobs and terms and conditions must transfer seamlessly in any sale of the Ulster Bank assets to any other entity.”
“To this end, I welcome the commitment from the Ulster Bank and PTSB reflected in their binding memorandum of understanding that they do not plan to close the Ardee branch of the Ulster Bank and that jobs will be protected.”
“This is good news.”
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