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

Photo of Michael McNamaraMichael McNamara (Clare, Independent) | Oireachtas source

I have one more question and Ms McDonagh can choose how she wishes to answer it. With regard to the proposed purchase of Davy by Bank of Ireland, which Ms McDonagh said is at a very preliminary stage, is she concerned that if it is purchased, it will effectively result in a windfall for the Davy 16 and that a bank, which is 14% owned by this State, will purchase a stockbroking firm, some members of which were found to have acted improperly who will get a windfall as a result of this purchase? How does Ms McDonagh propose to change the culture, which has been much criticised at Davy?

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