RTE 1 BancFirst to drop retail routes across Ireland for December deliveries of goods, the firm’s parent company announced today.
BancFirst, which has a turnover of €3.2bn, said it will stop all retail delivery routes for all its goods and services from tomorrow.
This is a direct response to the Government’s decision to impose new retail taxes on all its customers, including BancDirect, BancPay, BAC, BANC and BancCredit.
Bancho has a loss of €2.6bn in 2017 and will now focus on providing its retail services in the retail sector, which it currently operates in three locations.BANCFirst said it would now focus its retail operations on the wholesale sector, with its retail businesses including Bancho, a BancTrade partner.
This move comes after BancNet announced that it would suspend retail routes in the UK for January, a decision it later backed down on.