The PTSB Group of Unions including Unite, Mandate and Financial Services Union (FSU) say they have sought commitments to Job Security, to the Branch network and the introduction of a comprehensive and equal profit share scheme for all employees irrespective of their position in the Bank.
The trade unions met with Senior Management of the bank today, where management outlined the background around the decision to enter the formal process.
Following the meeting FSU General Secretary John O'Connell said they are also calling on the Minister for Finance to rule out private equity as a potential buyer.
It comes after shares in PTSB soared yesterday on the back of the announcement the bank is for sale.
The Group of Unions said they disscussed the implications that this will have on their members and said that they emphasised the importance of early engagement with the Unions as key stakeholders in the Bank and as our members voice in the process.
In a statement today they said the Group of Unions is the only external stakeholder body that has a legal right to provide an opinion which forms part of the formal notification to shareholders if an offer is made for the Bank as part of the formal sales process.
Since May 2025, the Group of Unions have new protocols agreed for engagement with Management on all matters that impact on their members work.
Unite Regional Officer, Jean O’Dowd said that workers are among the bank’s key stakeholders, and they will need to be assured that any new owner will be committed to PTSB in the long-term.
"The focus must be not just on maximising shareholder value, but on ensuring that workers share fully in he bank’s success going forward," said Ms O'Dowd.
John O’Donnell who is the Divisional Organiser at Mandate said: "We will continue to ensure our members terms and conditions of employment improve regardless of this process and their job security remains at forefront of our agenda.
"It is through the trust our members have built with their local communities that the PTSB is in such a strong position," he added.
