Permanent TSB confirms Limerick branches to stay

Nick Rabbitts

Reporter:

Nick Rabbitts

ALL four branches of Permanent TSB in the county are to remain open, the Limerick Leader can reveal.

ALL four branches of Permanent TSB in the county are to remain open, the Limerick Leader can reveal.

There were fears for the future of the state-controlled bank in Limerick after it announced plans to close 17 of its branches and restructure the company, a move which will lead to 250 job losses nationally.

But the two city branches, in Sarsfield Street and Upper William Street, will join a branch on St Nessan’s Road in Dooradoyle, and the branch in Newcastle West in remaining open.

This was confirmed by a spokesperson for the bank as the Limerick Leader went to press.

The 40 staff working in these outlets were briefed by management late on Wednesday night

It is unclear at this stage if jobs will be lost.

Fine Gael’s Dooradoyle-based councillor Richard Butler welcomed the news, describing it as “a vote of confidence in Limerick”.

“It goes to show that in these tough times, people are still willing to invest and stay in the Limerick region so it is great to see. I particularly welcome the news that the branch in the St Nessan’s Road will remain open, it is of huge benefit to the local community,” he said.

Cllr Tomas Hannon said he could never see the Dooradoyle branch closing, because of the size of the population it serves.

The bank - formerly the biggest mortgage lender in Ireland - is to create a ‘good bank’ and a ‘bad bank’ to wind down some irrecoverable debts.

The redundancies - all of which will be voluntary - will be split equally between the firm’s head office and the branch network.