National Irish Bank has decided to discontinue cash services at its Killester branch on the Howth Road in Dublin following a hostage-taking robbery at the branch in August.
The bank said the decision was taken following a security review after "the serious kidnapping incident" on August 28th in which three members of one family were held hostage while another family member was forced to deliver cash from the branch.
The family were held at gunpoint for 14 hours before the gang of four men left with a substantial sum of money. This was the second armed raid on the branch in two years.
In April 2005, the same NIB branch was raided by two armed men who locked staff in a toilet when they arrived for work before escaping with €100,000.
NIB said today that from December 1st, the branch will no longer handle cash transactions including cash withdrawals, cash lodgements and night safe lodgements at the branch but would continue to process transactions which do not involve cash and will provide all other personal, business and investment services.
The bank said the decision had also taken into account the previous history of raids on the branch.
NIB's chief executive officer Andrew Healy said: "The safety and security of our staff and customers is our number one priority.
Mr Healy said: "The decision taken today ensures the continuation of the Bank's presence in Howth Road while at the same time addressing the risk of further attacks on our branch, its staff and customers."
"In light of the events at Howth Road, we have also completed a review of security across our entire branch network. Various measures have already been introduced, including a significant reduction in cash levels held across all branches. Further changes will be implemented as deemed necessary over the coming months," he said.
A series of so-called tiger robberies in Dublin involving the kidnapping of personnel with access to large sums of money has prompted Opposition calls for the Government to crack down on armed crime.