Dáil Éireann Debate, Wednesday - 24 February 2021
227. Deputy Pearse Doherty asked the Minister for Finance the engagement he has had with banks (details supplied), given the State shareholdings in those banks with a view to securing elements of loan books of another bank in advance of its withdrawal from the market. [10535/21]
View answerI have been briefed on certain discussions and am supportive of trying to bring about an outcome that is good for both AIB and PTSB, the banks referenced in the recent Nat West announcement, but more importantly for Ulster Bank’s customers, staff and the Irish economy generally.
The loss of Ulster Bank after so many years is deeply disappointing and will have difficult consequences for some, if not many people. The Government's focus will be on trying to ensure that the disruption associated with the bank's departure is as limited as possible and finding ways to strengthen the banking landscape in the months and years ahead. What I am absolutely certain of is that the Government should not do anything that makes the problem we face worse and that would include any suggestion that I try to direct banks to do certain things, even though I have no such power, or pass legislation that would further restrict their freedom of operation.
