Dáil Éireann Debate, Tuesday - 1 December 2020
217. Deputy Niamh Smyth asked the Minister for Finance if he will review correspondence (details supplied); his views on the campaign to retain rural services; if his Department has engaged with the bank on the issue; and if he will make a statement on the matter. [39857/20]
View answerAs I outlined to the Deputy on the 3rd November, I am aware of the 'Save our Ulster Bank' campaign and I share the concerns outlined in the correspondence.
As the Deputy will be aware, I met with representatives of Ulster Bank on the 21 of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made. In particular, I asked that staff representatives be consulted and kept informed of developments. I also emphasised the importance of Ulster Bank to the Irish financial services market, to the wider economy and to the communities it serves.
Ulster Bank confirmed that the strategic review is ongoing and that no decision has yet been taken. Ulster Bank also confirmed that there is no set timetable for this review and that it is fully aware of the strategically important role that Ulster Bank plays in the provision of financial services to the Irish market.
News of the review is, of course, unsettling for all stakeholders, especially the staff and customers. I outlined that I expect Ulster Bank to keep all its stakeholders, especially its staff and customers, fully informed about any developments in the review and engage with them in relation to any proposals or decisions that result from the review promptly.
The continued presence of a viable and active Ulster Bank in the Irish market would be the most welcome outcome. Ulster Bank is a significant employer and has 88 branches across the country. Ulster Bank is also important in terms of providing competition in the Irish retail banking market.
While I will have further engagement with the bank as the review process continues, I would like to emphasise that I have no role in the review or any commercial decisions arising from it. My officials will continue to monitor developments.
