National Irish Bank has announced that from the end of the year it will no longer offer traditional branch counter services and will no longer handle cash transactions.

The bank says it has agreed a new partnership deal with An Post to offer cash services to its customers.

NIB customers will be able to lodge and withdraw cash and lodge cheques at over 1,200 post offices nationwide by the end of the year.

'Our customers will have access to over 1,200 post offices for their cash services, which is the largest distribution network for financial services in the country,' commented NIB's CEO Andrew Healy.

'It is part of a series of changes we are making to our business in order to build an even better bank for the future,' he said.

He added that today's announcement exemplifies NIB's commitment to Ireland.

Last year, National Irish Bank said it was cutting 150 jobs and shutting down almost half of its branch network as part of a major cost-cutting exercise. It said that 25 of its 58 branches in Ireland would close.

The bank is owned by Denmark's Danske Bank.