asked the Minister for Finance if he is aware of the fact that English mercantile banks are advertising for managers in the West of Ireland; and that this type of business can attract deposits from the people of the West to finance hire purchase transactions, possibly in another country; and the danger that this may reduce the flow of deposits to this country's banking system, thus further restricting loans to Irish people; and what action he proposes to take to remedy this matter.
Ceisteanna—Questions. Oral Answers. - English Mercantile Banks.
6.
I am not aware that English mercantile banks are advertising for managers in the west of Ireland or that these banks are attracting deposits to an appreciable extent from people in the west to finance hire purchase transactions abroad. I am aware that hire purchase lending in this country is financed extensively by external capital.