The Ulster Bank branch in Fermoy is to remain open. The welcome news came on Wednesday when the location of the 22 branches and sub offices to be closed as part of the bank’s major restructuring programe was announced. All of County Cork’s 12 branches have been retained.

11 of the offices are in the republic, with five branches and six sub offices to close. The other 11 are in northern Ireland. The branches closing in the republic are in Belturbet, Killeshandra and Kilnaleck in Cavan, Castlepollard in Westmeath and Glenamaddy, Co Galway. Two of the sub offices earmarked for closure are in Co Cavan, in Carrigallen and Swanlinbar. Also going, are the sub offices in Kilcormac in Co Offaly, Kilkelly in Co Mayo, Rathangan in Kildare and Delvin in Co Westmeath.

There had been speculation locally that Fermoy would be a casualty in the reorganisation. Cllr Noel McCarthy, chairman of the Fermoy Business Action Group said last week the economic importance of retaining the bank branch couldn’t be overestimated. On Wednesday he said the announcement was very good news for Fermoy people who use the bank’s services, for management and staff and for the town overall.

“For the town to develop sustainability it needs to have the services of financial institutions. It’s a vote of confidence in the town. I heartily welcome this news,” he stated.