Ulster Bank was today forced to withdraw a promotion in which students were offered tickets for an "exotic" show for opening a new account.
First year students at the Institute of Technology Tallaght in south Dublin were also offered €100 in their student account.
It is understood the event at the Metro bar in Tallaght was organised by the students' union at the college.
Ulster Bank representatives had been handing out tickets for the exotic event along with a goodie bag to new student customers.
In a statement the bank — which is owned by Royal Bank of Scotland — said it withdrew its association with the promotion once it realised what the tickets were for.
"In line with Ulster Bank's ongoing support for student events across the country, we can confirm that as part of our student campaign in IT Tallaght we promoted a freshers' week event to be held at the Metro bar," said a spokeswoman.
"Ulster Bank has no involvement in the organisation of this event and once the nature of the event was realised, the bank immediately withdrew any association with the event."
However, the college also distanced itself from the bank.
A spokeswoman said: "Institute of Technology Tallaght has no association with Ulster Bank and has no further comment."
The Union of Students in Ireland (USI) said it had no say on what individual committees organised, while the Tallaght students' union had no comment.
It is understood the Metro bar has cancelled the exotic dancers, which were booked to perform at 3pm on September 24th.
Parents accused the bank of "stooping to a new low" to attract young customers, and a women's rights group said they were appalled at the idea of the event.
Susan McKay, director of the National Women's Council of Ireland, said the incident was another blot on the reputation of a bank which was already disgraced.
"It is a completely inappropriate thing for a bank to be proposing," said Ms McKay.
"It's important that people understand that this isn't just a bit of a laugh.
"Many of the women working in that kind of trade, on the fringes of the sex trade, are extremely exploited. Many get involved because of extreme poverty or because they suffered childhood abuse
"There are really murky links between this kind of so-called entertainment and prostitution and sexual exploitation."
Ms McKay said there was also no excuse for the bank not to know it was involved in such a demeaning event.
"I wouldn't organise an event if I didn't know the details of it," she said.
"Women in USI should also organise against this type of thing being organised for freshers, it's anti-feminist and anti-women."
Labour Youth also condemned the event, saying it was "appalled" at the "chauvinistic" marketing campaign.
"This is a clear display of sexism at its worst and it displays blatant disregard for the dignity and respect policies operating in all Irish universities," said Karen O'Connell, Labour Youth's Equality Officer.
"We are calling on all students unions to utterly condemn this marketing campaign, which clearly illustrates a prejudicial attitude towards women."
Additional reporting PA