Oireachtas Joint and Select Committees

Tuesday, 23 March 2021

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector: Engagement with Bank of Ireland

Ms Francesca McDonagh:

I thank the Deputy for the question. I know that it is a very topical theme and that Davy has featured prominently in national debate and the media in the past few weeks. I think that we are getting ahead of ourselves here. It would be premature for me to make any such statement or response. We have gone on the public record to express our disappointment in Davy's breach of its regulatory obligations, which fell short of the standard expected. We note the decision by the Davy board to appoint advisers to proceed with the sale. That is at a very early stage as far as I understand, and as that process starts we may look at this opportunity as we look at a variety of opportunities in the market. However, it is premature for me to hypothesise about what could happen in a process that has not actually officially started yet.

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