Ulster Bank, one of the leading sporting sponsors in Ireland with major commitments in Rugby and GAA announced yesterday it was to close up to 40 mainly rural branches before the end of 2014 and shed 350 jobs as a direct result.
The closures are part of a plan to return to core profitability by 2016 and the statements issued yesterday suggested this was well on track with loan to deposit ratios now down from 152 to 127 per cent en route to 100 per cent as a primary objective.
It will still leave the bank with more than 180 branches across the island of Ireland and a recognises changes in how we use banking.
Digital investment was identified as key, in line with changing patterns of consumer behaviour and this is reflected in the main activations for this year’s sponsorship of the GAA All Ireland Football Championship being focused on social and digital as opposed to through the branch network.
The bank will also seek to leverage its position within the RBS Group to demonstrate its capacity for scale. This has always been the way with the ULster Bank activation in Ireland of the sponsorship of the Six Nations Rugby tournament and the associated Rugby Force initiative at club level.
Any programme of rationalisation obviously contains a threat to marketing spend but the relationship with sport does seem to be well aligned with future plans, and the ability to reach out across emotional touch points activated through digital channels means that is likely to continue.
Ulster Bank also has commitments in the areas of Business and Arts sponsorship including flagship projects like Small Business Can and The Dublin Theatre Festival.
In international terms the resurgence of banking as a supporter of sport is indicated again today by Deutsche Bank becoming the main sponsors of Italian Serie A club Inter Milan.
Ulster Bank was a founder member of Sport for Business and has been an active partner throughout. It will host the Sport for Business 20/20 in October, showcasing 20 of the best sporting projects in Ireland for 2014 to 20 leading businesses interested in lending their support to innovative ideas.
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What Future for Ulster Bank and Sport?
