Dáil Éireann Debate, Tuesday - 17 November 2020
286. Deputy Ged Nash asked the Minister for Finance if his Department has received a copy of the terms of reference for the strategic review being undertaken by a bank (details supplied); and if so, if he will publish the terms of reference without delay. [37112/20]
Amharc ar fhreagraAs the Deputy is aware as Minister for Finance I have no role in the commercial decisions made by the banks, including any strategic reviews undertaken. This applies equally to the banks in which the State has a shareholding.
Decisions in this regard are the sole responsibility of the board and management of the banks which must be run on an independent and commercial basis. The independence of banks in which the State has a shareholding is protected by Relationship Frameworks which are legally binding documents that cannot be changed unilaterally. These frameworks, which are publicly available, were insisted upon by the European Commission to protect competition in the Irish market.
In relation to the specific matter raised by the Deputy, I can confirm that my Department has not received a copy of the terms of reference of the strategic review which he has referred to. I note that the bank involved commented at the time of its 2020 H1 results announcement that it would provide an update in this regard when it announces its full year results.
