Confidence that MBNA credit card operations can be sold

MOST PEOPLE in Co Leitrim last night refused to contemplate the possibility of what was being termed “another Dell”, as the 750 or so MBNA staff in Carrick-on-Shannon learned that their future hinges on Bank of America finding a buyer for its Irish and British credit card operations.

Most staff got their first inkling that something was amiss when relatives in the US started to phone them around lunchtime yesterday, having heard media reports there about the company’s plans.

A short time later managers were summoned to a meeting and, at about 3pm, e-mails landed on the computer screens of all workers.

There was no meeting called, no big announcement and, according to workers, only the information released to the media about the same time.

Last night local politicians and business people were insisting that the Irish operation was profitable and that it would be sold. The alternative would mean a catastrophe for the county and for the workers who also travel to the MBNA operation from Roscommon, Longford, Sligo and even Donegal.

“This would be on the same scale as Dell in Limerick, if it closed,” said former Fine Gael TD and local councillor Gerry Reynolds. However he insisted that, having spoken to company representatives yesterday, he felt confident that the business would be sold.

“I have to say I feel much more optimistic after speaking to people in the company – the credit card operation in Carrick and in Chester where 4,000 people work, is actually very profitable.”

Joe Dolan, owner of the Bush Hotel in Carrick which regularly hosts Bank of America events, said the situation was “very worrying” but he, too, insisted that there would be a lot of interest in what was a profitable operation.

Leitrim county councillor Enda Stenson said closure would be a disaster for the region.

“Carrick has been booming since MBNA arrived. Communities have been built on it. There have been so many spin-off businesses. Everybody has a family member there. Houses have been built on the wages. It is the biggest ratepayer the local authority has. Everyone would be affected but we just have to be positive.”

Gerry Faughnan, president of the local chamber of commerce, was hopeful. “At the end of the day there will be demand for credit cards.”