Niamh Smyth
Ceist:93. Deputy Niamh Smyth asked the Minister for Finance his plans to address the diminution of banking services in rural Ireland; and if he will make a statement on the matter. [11007/18]
Amharc ar fhreagraTuesday, 27 March 2018
Ceisteanna (93)
Freagraí scríofa
I should stress at the outset that the Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches.
The Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the Boards and management of the institutions.
That said, I expect that any bank closing branches will do everything that it can to mitigate the impacts of the branch closures on local communities, including technology and the use of alternative means of service delivery. I also expect that the bank will ensure that customers are kept informed about developments and provided with the appropriate assistance to move branches, switch to other banks and avail of alternative means of accessing financial services. The Central Bank will also have a role in ensuring that consumer protection rules are followed.
The Deputy may be aware that An Post are providing a new current account service, the An Post Smart Account to the public. This offers a number of features to its account holders. Consumers can apply for an account online or in any Smart Account Post Office.
The Deputy will be aware of the Strategic Banking Corporation of Ireland (SBCI) whose mission is to deliver to Irish SMEs effective financial supports that address failures in the Irish credit market, while driving competition and innovation and ensuring the efficient use of available EU resources.
The SBCI does not engage in direct lending. It utilises an on-lending model, making finance available through partner finance providers known as on-lenders.
The SBCI began lending in March 2015. To the end of December 2017, SBCI supported funding of €925m has been provided to 22,928 SMEs supporting 119,533 jobs. Of specific relevance to this question is that over 85% of SBCI supported lending has gone to SMEs based outside Dublin.