As specified in the relationship framework agreement between my Department and Bank of Ireland, it is the Board of the Bank who make decisions regarding day to day operational issues of the Bank.
I must re-iterate that the Bank’s policy in relation to operations is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the bank, which include this matter. These decisions are taken by the board and management of the institution.
Notwithstanding the fact that the State is a minority shareholder in the institution, I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF.
The Bank has kindly supplied the following response to the Deputy’s question:-
“Bank of Ireland conducts on-going customer research to increase our understanding of customer needs and to gain feedback on the products and services we provide. All such research is carried out in compliance with all relevant codes and standards. The output of all research is confidential to the BOI group and is used continuously by the bank to improve our customer's experiences and the services that we offer.”
