TD urges students to ‘stay positive’ after bank shut down
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Students at a local bank have been left scrambling to make payments after the national TD bank was shut down.
Key points:The TD Bank has shut its branches and offices in Dublin and LimerickThe bank has received more than €8 million in taxpayer fundsThe Irish Times reports the closure of the bank will affect nearly half of the people working at the businessThe bank closed its branches in Dublin on Monday, with the remainder of its staff and customers staying in the capital.
The Irish Bank Resolution Corporation (IBRC) announced the closure to employees on Tuesday and it was announced on Wednesday that a total of €8.6 million has been transferred to the businesses affected by the closure.
The bank says it will receive a further €2.5 million from the Government’s Community Bank Fund, which it had been using to cover its operations and costs.IBRC chairman Sean O’Donovan said the closure was “an important step in the healing process”.
“Today, the Irish Bankers’ Association (IBA) will hold a meeting to discuss the future of the Irish TD Bank and its employees,” he said.
“We will be discussing how we can ensure that the employees and staff continue to receive the support and guidance they need to achieve their financial goals and to help rebuild the bank’s reputation.”
As a community bank, TD has a long and proud history of supporting small and medium enterprises in the city of Dublin and has been a significant partner in supporting local businesses and local communities.”‘
It was the right decision’The IBRC said it has been in contact with employees who are still working at TD and has promised to provide them with the necessary support.”
In addition to the immediate and long-term impact on its customers, the bank has suffered a loss of approximately €2 million due to the closure, and this is a significant amount of money for the bank to have to cover.””
We wish them and their families the very best in their ongoing recovery.”
In addition to the immediate and long-term impact on its customers, the bank has suffered a loss of approximately €2 million due to the closure, and this is a significant amount of money for the bank to have to cover.
“The bank is also receiving an additional €2m from the Department of Finance, which will cover its operational costs.”‘
We’ve lost so much money’Dublin City Council has also been hit hard by the closing of the TD branch, which was set up by the bank as a way to ease the strain on its city centre.
“It was our decision to close the bank, and we’ve lost all of our savings, as well as the amount of the deposit they gave us,” Dublin City Council leader Niall Collins said.
Mr Collins said that although the bank is now able to offer some services, the amount is now equivalent to a small portion of the local population.
“Our savings have been wiped out,” he added.
The IBRCC is expected to publish a final statement on its website on Thursday.
Mr O’Neill said the IBRC will “continue to work with the Irish Government to find the best solution to support the employees affected by this important and difficult decision”.
He added that the company was also continuing to meet with the TD’s management team to discuss “the future of this bank”.
He said the Government has “reached out to TD and their management team over the past few days to express its support for them”.
“They have a long history of working with the people of Dublin to help them recover from this financial shock,” he concluded.
“This is a very difficult time for them, and they have a huge amount of support to recover from.”
Topics:business-economics-and-finance,bankers,banking,dublin-2580,irish-national-football-league,community-and_religion,iran,ghana,friday-time-traveling,dunedin-2578,dudley-2145First posted February 12, 2019 14:46:39Contact Kerry Dyer
Students at a local bank have been left scrambling to make payments after the national TD bank was shut down.Key…
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