Michael Noonan
Question:52 Mr. Noonan asked the Minister for Finance the plans, if any, he has for the future of the ACC, the ICC and the TSB; and if he will make a statement on the matter. [5284/00]
Vol. 515 No. 1
52 Mr. Noonan asked the Minister for Finance the plans, if any, he has for the future of the ACC, the ICC and the TSB; and if he will make a statement on the matter. [5284/00]
I have made it clear to all concerned that the status quo of ACC Bank, TSB Bank and ICC 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.