John McGuinness
Question:27. Deputy John McGuinness asked the Minister for Finance the status of any recent engagement with the banks in Ireland. [44875/21]
View answerTuesday, 21 September 2021
Questions (27)
Written answers
My officials and I regularly meet with the main retail banks, both in-person, and more recently, using virtual platforms.
In particular, we engage with each of the banks in which the state has a shareholding (i.e. AIB, Bank of Ireland and PTSB) on a regular basis. This engagement has been in place since the State first invested in the banks and it includes regular meetings where a wide range of topics are discussed.
As the Deputy will be aware, earlier this year, Ulster Bank and KBC both announced that they plan to exit the Irish market on a phased basis. As such, my officials and I have been engaging with each of them in relation to their plans. While these are commercial decisions and are a matter for the boards of management of the respective organisations, the Government is supportive of trying to bring about an outcome that is good for the banking sector, as well as for the staff and customers of Ulster Bank and KBC and for the Irish economy generally.
In terms of upcoming meetings, tomorrow I am due to meet Alison Rose, CEO of NatWest, Sir Howard Davies, Chair of NatWest, Jane Howard, the CEO of Ulster Bank, and Martin Murphy, the Chair of Ulster Bank. While this meeting is intended to be general in nature, I will emphasise the importance of an orderly withdrawal of Ulster Bank from the Irish market.