Ian Guider: AIB U-turn will just stave off the inevitable for a short while longer

With a new generation turning to remote banking, and a downturn in sustainable returns, we can expect to see more cost-cutting attempts like those announced by AIB last week

‘The pandemic delayed the inevitable conclusion that the legacy of running a nationwide branch network with cash services being used by fewer and fewer people could not be sustained.’ Picture:

Last month, when this column focused on how profitable the banking sector might become as a result of a tightening in monetary policy by the European Central Bank, a former senior executive at one of the “big two” got in touch to point out that I was only looking at the income line and ignoring the higher costs and greater capital requirements.

The discussion was a reminder of how the focus of every high-level banker ...