Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Deputy for raising this important issue. I acknowledge the significant public concern as a result of the Bank of Ireland announcement. None of us want to see bank branches closing because we realise just how important they are for the communities they serve, for personal customers and for business customers. On the role of the Government, as the Deputy has pointed out, the Government is a minority shareholder in Bank of Ireland, with a 14% shareholding. A relationship framework agreement is in place that governs that relationship. As a result of that agreement, the Government does not interfere in the day-to-day commercial decisions made by the bank. We want to ensure that financial services are provided in communities around the country. In that regard, we welcome the new partnership agreement being entered into by Bank of Ireland and An Post. Arising from the bad news on the closure of branches is an opportunity for the post office network, some of which is under strain as the Deputy and colleagues on the committee will be well aware. I also believe there are opportunities in this regard for credit unions to continue to expand the range of services they offer. The Government will do all it can to provide a supportive environment and a framework for the continued provision of services. It would be wrong of me, on behalf of the Government to say that we can control the decisions made by the Bank of Ireland on individual branches because we simply cannot.