First Trust Bank announce tonight that it is closing two of its branches in Derry city and Magherafelt as part of major cost-cutting drive

First Trust is closing two of its two remaining branches in County Derry, the bank announced tonight. The branches at Crescent Link in the Waterside area of Derry and Magherafelt will close in the summer as part of a major cost-cutting exercise. The First Trust branch at Meadowbank in Derry will remain open. In total, the bank is closing 15 of its 30 branches across Northern Ireland. First Trust said it was starting a ‘reshaping and investment programme’ involving the ‘consolidation of First Trust Bank's branch network’ with the closure of the 15 branches. The head of First Trust, Des Moore, said it had been a ‘difficult decision’. "Since 2010 we have seen almost a 40% decline in branch usage coupled with a 117% increase in mobile transactions over the past two years and we have had to make the difficult decision to close a number of branches," he said. The Crescent Link bank is due to close on July 7, with the Magherafelt branch due to close on July 28. First Trust said it would be ‘working hard’ to minimise the impact on staff and customers.