About 85 per cent of accounts open at start of last year closed or inactive at the end of March via IrishTimesBiz
Central Bank data shows about 85 per cent of KBC and Ulster Bank accounts open 16 months ago have been closed or are inactiveMore than 60,000 of primary current accounts with Ulster Bank and KBC Bank Ireland remained open at the end of last month, even after the vast majority of customers of the two exiting banks moved their business to other providers, according to the latest official figures.
The Central Bank said on Friday that 85 per cent of all household and business current accounts that were open at the begin of last year were either closed or inactive at the end of March. Some 79,400 deposit accounts were still open, down 86 per cent from early 2022, according to the data. However, there has been a sharp drop-off in the level of customers closing accounts and moving their daily banking since a rush of activity in February, even as Ulster Bank prepares to close its remaining branches next Friday. KBC closed most of its hubs last month, though its Grand Canal Dublin location will remain open until the end of August.
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