PERMANENT TSB is planning to open a new bank on the northside of Cork, five years after they shut four branches in the city in a major restructuring plan.
The company plans to open the new branch in the Blackpool Shopping Centre, next door to an Ulster Bank branch that is set to close.
Fears had been raised in recent months about the lack of banking facilities for businesses on the northside, with the Ulster Bank closure leaving just two branches for the entire northern side of the city.
In 2012, Permanent TSB closed four of its Cork branches in Mayfield, Lapp’s Quay, Youghal and Cobh.
These followed the closure in 2010 of branches on Cathedral Road and Togher.
The bank currently has 13 branches across Cork city and county.
They are now proposing to open a new branch in the Blackpool Shopping Centre. It will be located adjacent to Blackpool's Ulster Bank premises who announced in March they were shutting four Cork branches, including Blackpool, as part of a nationwide restructuring plan shutting 22 branches.
It led to concerns over the continued erosion of banks and financial centres on the northside of the city.
The location of the planned new Permanent TSB branch is underneath the Blackpool Library at Bowler House.
The unit is currently occupied by MacCarthy's Home Furnishings.
The owner of the store said their business would not be affected by the planned change and they would be relocating within the area and will continue to trade as normal.