Pearse Doherty (Donegal, Sinn Fein)
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234. To ask the Minister for Finance the discussions his Department or the Central Bank has had with their British counterparts regarding the sale of a bank (details supplied) in view of the implications for another bank; and if he will make a statement on the matter. [25255/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The British Government’s divestment policy for its equity stake in Royal Bank of Scotland (RBS) has long been signalled and the recent sales are an expected part of that strategy. Therefore, I have not been in contact with my counterparts in relation to the recent sale.

I met with senior personnel in RBS and Ulster Bank in May of this year. RBS has publicly stated its commitment to Ireland, and Ulster Bank has informed me that it is seeking to compete and grow for the benefit of its customers, the Irish economy and its shareholders.

The Central Bank has advised that due to statutory confidentiality requirements it is not in a position to comment on its supervisory engagement with individual firms.