The Tanaiste says she’s concerned that other banks and financial institutions could follow Halifax Bank of Scotland and announce job losses here.

Mary Coughlan was responding to the news that the bank is to close its branch network here with the loss of 750 jobs.

Halifax Bank of Scotland is credited with bring cheaper mortgages, introducing 100% loans and tracker rates here, and has about 7% of the market.

The Tanaiste says she’s disappointed at the news – but is also concerned that the financial services sector is suffering and that further losses can be expected.

“I think there’s a reality there that the banking sector in itself has lost a lot of customers and it is a very difficult situation for them” she said.

“It’s unfortunate that within the financial services sector there will be loses – but it’s also important to say, and it’s something I haven’t heard, is that Ireland continues to have the greatest presence of financial services sector per capita in the world”.

“But on the retail side unfortunately, because of what has happened not just in this country but elsewhere, it has been difficult to sustain employment” she added.