Mairead Farrell (Galway West, Sinn Fein) | Oireachtas source

Gabhaim buíochas as an cur i láthair seo. I must declare that I am a member of the FSU, as I worked in banking in the years prior to joining it. However, I had just joined when I got elected, which was a bit of a surprise at the time. The vital role Ulster Bank has played in supporting local jobs is very clear. It employs 3,000 people and that has a serious impact on the economy and on regional balance as well. In 2019, Ulster Bank provided new lending of €3.1 billion into the southern economy and had deposits of €22 billion. It is the third largest mortgage lender in the State and provides 20% of lending to our SMEs. That shows how important an impact Ulster Bank has on the economy in the South. We have all seen speculation rather than detail, as Mr. O'Connell outlined, and it has been recently reported that Goldman Sachs has been employed to undertake the strategic review. Mr. O'Connell will be aware that Goldman Sachs has been involved in the Irish mortgage market in setting up vulture funds, which buy distressed debts from our retail banks and sell them without paying a cent in tax on their profits. What contact have the FSU and Ulster Bank staff had from either Ulster Bank or NatWest regarding the terms of reference of this strategic review?