Denis Naughten
Question:48. Deputy Denis Naughten asked the Minister for Jobs, Enterprise and Innovation the progress made to date in finding a buyer for the MBNA UK loan book; and if he will make a statement on the matter. [9035/13]
View answerThursday, 21 February 2013
Questions (48)
Written answers
The process regarding the sale of Bank of America's (BOA's) UK credit card businesses is ongoing.
IDA Ireland continues to monitor the situation closely and is providing relevant input into the process as it moves forward. BOA has not yet sold the UK MBNA portfolio supported out of Carrick-on-Shannon. IDA's understanding is that BOA is still searching for a buyer for the UK book as to date no buyer has been found.
There are approximately 225 employees continuing to service the UK clients from Carrick on Shannon. IDA is in regular contact with Bank of America management in Carrick-on-Shannon, Dublin and at headquarter level in the US and UK to monitor developments. IDA last met with BOA MBNA management in Carrick-on-Shannon on the 15th of February 2013.
IDA also met with senior executives of Apollo (purchaser of the BOA Irish credit card book) in London last November during the run-up to the transfer of the Carrick facility and staff to Apollo, when further investment opportunities for the group in Ireland were discussed.
We understand that the transfer of the Irish credit card business and staff to Apollo will be completed by mid-March. My Department and IDA Ireland will keep in close touch with the issue and will use whatever influence they can to seek to ensure a satisfactory outcome.
Question No. 49 answered with Question No. 21.