Bank of Ireland is set to close nine of its smaller branches across Northern Ireland in total, with closures coming into effect by June.
Alliance Councillor Patrick Clarke said: “The impending Bank of Ireland closures in Rathfriland and Kilkeel will have implications for staff and their families, as well as implications for customers and local businesses in terms of quality and the accessibility of service they can expect following this announcement.
“Both Bank of Ireland branches in Kilkeel and Rathfriland provide an important day to day banking service for local businesses and the wider community which both branches and their dedicated staff have served over many years.
“The closures of both branches will take place between May and June. Sadly the loss of these branches in Kilkeel and Rathfriland will be a severe blow to local businesses and the wider community and will impact on the older community who prefer to bank at their branch as opposed to online.”