Staff from First Trust Bank, accompanied by their trade union representatives from the Irish Bank Officials Association (IBOA), today met the First Minister and Deputy First Minister in Belfast to outline their serious concerns about the potential implications of the proposed sale of the bank by AIB plc. Today’s meeting follows earlier engagements with Finance Minister, Sammy Wilson MP MLA, and the NI Assembly’s Finance Committee.
Speaking before the meeting, IBOA General Secretary, Larry Broderick, said:
“The surprise decision by the AIB Group to put First Trust Bank is irresponsible, short-sighted and damaging for jobs and the Northern Ireland economy. First Trust Bank has existed in Northern Ireland in one form or another for decades and is a vital part of the community. The staff of FTB – the vast majority of whom are IBOA members – have worked hard to serve businesses, home-owners and personal customers for many years. However, their loyalty and hard work is being repaid by rash decisions based on expediency and short-termism following the appalling mistakes made by the senior management of AIB Group in Dublin.
“Forcing a sale of First Trust Bank at a time when international financial markets are in the doldrums will almost inevitably result in a fire sale – which would be an open invitation to an asset stripper with little or no commitment to FTB’s branch network, to its current levels of employment or to the wider economy of Northern Ireland.
“The future economic prosperity of Northern Ireland relies on a strong local banking sector, committed to lending, businesses and employment. A sale of First Trust Bank in the present climate could see the Bank’s presence reduced significantly, both in terms of employment and in terms of providing credit to the economy which would in turn result in less competition and longer dole queues.
“At today’s meeting we will be inviting the First Minister and Deputy First Minister to add their voices in support of our efforts to lobby the AIB Group Board and the Department of Finance in Dublin, as AIB’s biggest share-holder, to rescind this short-sighted decision,” he said.
