Permanent TSB Retail Director confirms commitment to maintaining branch network. Bank marks branch investment programme

. The Director for Retail Banking at Permanent TSB has confirmed the bank’s commitment to maintain its 76 strong branch network. Patrick Farrell was speaking in the bank’s state-of-the-art branch in Omni Shopping Centre in Santry (Dublin) to mark a €5 million investment programme for branches in the coming year.

This latest investment comes on the back of approximately €20 million in its branch network in the past two years including upgrading certain branches, increased customer training for branch staff and investments in new technology in branches.

The bank has also introduced Quick Banking Machines into 44 branches which will automate cash transactions and free staff to support customers; “with the exception of coins, these machines can handle all the cash transactions that you associate with a cash desk but now the staff member can come out from behind the desk to work directly with customers.”

Farrell said the bank was committed to the branch network and had no plans to reduce the number of branches it operates: “Our brand revolves around community and we see branches as a community asset not just a bank asset so there is a natural desire to maintain a strong, dynamic branch network. We kept all 76 branches open since the Covid lockdowns began a year ago and we are committed to maintaining a nationwide network into the future.”

The bank is also increasing the amount of digital support available for customers and staff within branches with greater use of iPads and Digital Advisors connecting customers with specialist personal and business banking support. It has also completed a staff training programme to support a more customer facing role for staff in branches.

Farrell said that the key to safeguarding branches was to allow them to evolve; “branches will change but they don’t have to disappear. We believe they are still a vital part of our business model and the key to safeguarding their future is to make them efficient and give customers valid reasons for using them. That’s less about cash in this day-and-age and more about digital services and in-person support and that’s what we are doing with these changes.”