Gerald Nash (Louth, Labour) | Oireachtas source

Frankly, to a greater or lesser degree, we are all disturbed about the treatment and experience of Ulster Bank staff in recent months. They had to read about the potential risk to their jobs in the newspapers as far back as last September. Over the past ten to 15 years, Ulster Bank staff have experienced what could be termed restructuring fatigue. The witnesses will be aware of this situation, given all the processes which the bank instituted in recent years regarding consolidating the business.

Reviews and strategic reviews generally involve the whole of the business. It is clear to those of us who have been following this matter closely, and of course to the FSU, which represents the bulk of Ulster Bank staff in Ireland, that there was no engagement worth the name with the staff of Ulster Bank. They are the people most immediately affected by the decision NatWest has made to exit this market.

Frankly, the way the parent organisation, NatWest, and the witnesses, as direct employers, treated staff in Ulster Bank was an insult. The staff deserved better. I hope the witnesses will acknowledge that point and that the staff do deserve better. I also do not accept that the staff should be expected to accept the statement made by the bank last Thursday regarding no decision having been made. That statement came only a matter of hours before the formal announcement of NatWest Bank's decision to exit the market. That is regrettable, and the witnesses might address this matter in detail when they respond.

Would Ms Howard agree that for the duration of the pandemic, there should be no bank branch closures for the reasons outlined by the UK regulator, which regulates the parent organisation NatWest? Given the bank's attitude to its staff and customers and the way it has behaved in recent months, it is fair to say that the organisation is paying lip service to any attempts we are making to change the culture of banking in this country. In that regard, does Ms Howard believe she should resign from the Irish Banking Culture Board given the experience in recent months?

What kind of engagement has Ulster Bank had with the regulator in recent months when it was considering this decision, which appears to have all the hallmarks of a fait accompli? I regard the strategic review as merely a cosmetic exercise, as do most of the staff.