IBOA, the Finance Union, which represents almost 22, 000 people across the UK and Ireland, said the proposed cuts would have a "devastating impact" on First Trust Bank's employees and their families.

BBC: Allied Irish Banks to shed 2,500 jobs

The bank, which trades as First Trust in Northern Ireland, said its asset quality deteriorated further, mostly in its property portfolios.

BBC: AIG logo

First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management, including investment, trust and brokerage services.

FORBES: First Republic Bank