AIB are Franchising Out Core EBS Branch

AIB have made a decision to franchise out EBS branches, including at least one core branch, rather than close them.

EBS Liffey Street, in Dublin city centre, on of EBS's main branches is being franchised out from 1 October 2013. The appointed franchise operator is Elaine Flynn Financial Services Limited.

All EBS staff are leaving the branch, there will be new staff post franchising.

Any thoughts of implications for customers?

Many EBS branches have been franchises for a long time with access to the same services and products as 'core' EBS branches. As of last year EBS had 14 branches, 41 tied branch agencies and 36 tied agencies. The franchisee for Liffey Street is an existing EBS branch manager and although the existing staff may be leaving, it will probably not be too difficult to get past EBS or other financial institution staff to fill the roles.

It is far better for customers that the branch is franchised rather than closed as it provides access to face-to-face interaction.

Generally branches survive because people are more likely to open accounts in a branch than online. Customers performing transactions in the branch are not profitable even when the customer perceives that they are paying an extortionate fee for the service. The success of the franchise model depends on the franchisee bringing in a lot of new business to AIB/EBS.

Hello,

While I'd have no problem with a franchise type arrangement, was happy to have used the EBS on Lr. Baggot St. in years past and the service was very good (am pretty sure it was a franchise) ... keeping the EBS brand is madness.

The Building Society movement is long gone, there are no mutuals and AIB is losing a fortune (of taxpayers money) so continuing to spend money to maintain a stand alone brand (i.e. the EBS) makes no sense at all .....