“It will be very difficult to attract investment without a bank.”RESIDENTS groups from county towns affected by the pending closure of AIB branches are awaiting feedback following meetings with senior management in which cases for the retention of the banks were put forward.Sign up for the weekly Limerick Post newsletter Sign Up AIB took the decision to close eight branches in Limerick city and county by the end of next year, but locals have refused to lie down under the move.Following a public meeting, it was decided that five concerned Foynes residents would meet with the manager of the Newcastle West branch, James Stanton, and the regional manager, Gene McPolin.One of the representatives, Margaret O’Shaughnessy, Director of the Foynes Flying Boat Museum said:“The managers came to us in Foynes and we presented them with a 12 point argument as to why the closure of the local branch should be reconsidered.Speaking to the Limerick Post she added:“If the closures go ahead there will be only one branch on the N69 between Listowel and Limerick, a 63km stretch, while the N21 has one in every town.“Foynes is a major port town and there are huge plans to develop it through the port company but it will be very difficult to attract investment without a bank”.She said that the Foynes branch should have been profitable, with at least 60 local business accounts based there, as well as “countless employees’ personal accounts at the branch.“A mobile bank wouldn’t suffice for our needs and it will be a knock for tourism to not have a branch here.“There are also security issues related to the closure as businesses will have to travel long distances with cash in tow to lodge it.“We asked what savings would be made from closing the branch, as AIB own the building.“We also asked what facilities will be provided at the post office, because we have yet to hear of details of this arrangement”.Ms. O’Shaughnessy said that the group had been happy to have the initial meeting and to be listened to but understood that it would be some time before feedback would be received from the bank.Representatives of the Drumcollogher branch of the AIB also met with officials. Print Advertisement Facebook Email Linkedin WhatsApp Twitter NewsLocal NewsFeedback awaited following local meetings with AIBBy admin – August 29, 2012 735 Previous articleNo decision yet on the implementation of a property tax – NoonanNext articleManager makes new appointments admin
Spain’s Naturgy swung to profit during the first half of 2019, following a loss reported in the corresponding quarter last year.The company reported a net income of €592 million ($660 million) which compares to a €3.3 billion loss ($3.6 billion) in the corresponding period last year.In Gas & Power, the first-half results have been driven by improvement in services sales, which has experienced a strong margin recovery in power supply, more than offsetting a more challenging scenario in international LNG and Europe power generation, Naturgy said in its report.The company’s new commercial policies and de-risking efforts, together with efficiencies, have also helped offset the global decline in gas prices during the period, the report says.The company noted in its report that its gas sales declined by 8.3 percent to 116.1 TWh during the period under review, mainly due to lower sales in the Spanish residential and industrial segments.Its international LNG sales slumped 21.1 percent to 60.6 TWh as short-term sales dropped by 49.6 percent. On the contrary, long-term sales have grown by 56.5 percent, the company said. In terms of its de-risking efforts, Naturgy said it has already secured approximately 90 percent of its LNG volumes for the year.Naturgy’s net sales for the period reached €11.6 billion, 4.4 percent below the €12.1 billion reported in the first half of 2018. This was due to lower energy prices and volumes sold in the liberalized businesses that offset the growth in the infrastructure activity.