The Guiding Principles for Change

During the course of 2021, material announcements were made in relation to the composition of the Irish retail banking market with significant changes to branch operating models and with Ulster Bank and KBC Bank Ireland announcing their intention to leave the market. The IBCB recognises that from time to time there will be commercial decisions taken by our member banks which may result in both negative (and positive) impacts on specific customer and/or staff cohorts. While it is not the role of the IBCB to focus on the commercial aspects of these decisions, we are of course concerned with how the changes are implemented and whether it is done in alignment with the core elements of positive behaviour and culture – fairness, transparency, and accountability. In response to these ongoing changes, in September 2021, the IBCB developed a series of Guiding Principles of Change (‘the Principles’) for our member banks to adhere to, as relevant, where there are significant changes in operating models and/or activities resulting in material impacts on bank customers, and/or staff, and/or the wider market.

The Principles are designed to facilitate material changes being carried out in accordance with the principles of good culture and are composed of five broad categories: