Proinsias De Rossa
Question:41 Proinsias De Rossa asked the Minister for Finance the Government's plans for the future of ACC and TSB; and if he will make a statement on the matter. [5253/00]
Written Answers. - State Banking Sector.
I have made it clear to all concerned that the status quo of ACC Bank and TSB Bank could not continue. Furthermore, I stated that it was more important than ever that each organisation should address the need for change in order to face the increasingly competitive marketplace.
In this regard, I am of the view that a change in ownership structure is vitally important to secure the long-term interests of each bank. I asked each of the banks in January to urgently review their position with a view to bringing forward proposals for the future and I am awaiting their responses.