Branch staff will be 'aghast'

IBOA reactionThe general secretary of the bank officials' union, IBOA, has described the High Court inspectors' report into tax evasion and improper charging practices at National Irish Bank (NIB) as "a damning indictment of totally unacceptable and unethical practices".

Calling on NIB's parent company, the National Australia Group, to reassure its members that their jobs were safe, Mr Larry Broderick said IBOA members working in NIB would be "aghast and saddened" at the extent of the practices.

"Unfortunately, it will be the ordinary bank official working at the coalface of banking who will be on the receiving end of justifiable customer anger over these revelations. Staff feel very hurt, embarrassed and let down by these unacceptable activities by a small group of executives."

Praising the meticulous manner in which the inspectors exposed the practices, he said those responsible should be held to full account for their actions.

But he said it was important that current employees were not scapegoated for sins of the past.

"IBOA accepts that these practices took place in the past and that National Irish Bank have made tremendous efforts with the support of staff in recent years to ensure such practices will not be repeated."

The bank officials' union said the report was far too important to be "left to just gather dust".

"There is no doubt that this has been a black week for Irish banking," said Mr Broderick, noting the financial regulator's recent report into overcharging at AIB.

"There has to be a root and branch review of the prevailing culture in banking which is putting profit before everything."