Belfast Telegraph

Sales of safes soar in Republic

Safe sales in the Republic are soaring as more and more worried bank customers stash their cash at home.

First Trust parent Allied Irish Banks (AIB) said last month that the amount of money on deposit at the bank has fallen by €13bn since the start of the year - although it blamed most of the reduction on withdrawals by companies and financial institutions.

Another reason for the increased use of home security safes is a growing fear of burglaries because of the recession.

The AllSafes.ie company, one of the largest suppliers in the country, said its sales of home safes had increased by 80% over the past three months compared with the same period last year.

Its founder, Neil Donnelly, said his company's sales of safes have increased by 25% in the past three months but the steepest rise - of 80% - has been in the home category.

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