Thursday, 26 November 2020

Ceisteanna (129)

Brendan Smith


129. Deputy Brendan Smith asked the Minister for Finance if he will convey again to a bank (details supplied) the need to retain its business network which is important for many rural communities; and if he will make a statement on the matter. [39167/20]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy will be aware, I met with representatives of Ulster Bank on the 21st of October. I outlined that I expected that staff, customers and other stakeholders would be informed promptly about any decisions being made.

News of the review is, of course, unsettling for all stakeholders, especially the staff and customers. I outlined that I expect Ulster Bank to keep all its stakeholders, especially its staff and customers, fully informed about any developments in the review and engage with them in relation to any proposals or decisions that result from the review promptly.

I also emphasised the importance of Ulster Bank to the Irish financial services market, to the wider economy and to the communities it serves.

Ulster Bank confirmed that the strategic review is ongoing and that no decision has yet been taken. Ulster Bank also confirmed that there is no set timetable for this review and that it is fully aware of the strategically important role that Ulster Bank plays in the provision of financial services to the Irish market.

While I will have further engagement with the bank as the review process continues, I would like to emphasise that I have no role in the review or any commercial decisions arising from it. My officials will continue to monitor developments.