Oireachtas Joint and Select Committees
Wednesday, 14 September 2022
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Issues: Discussion
Peadar Tóibín (Meath West, Aontú) | Oireachtas source
AIB is in rude health at the moment and I imagine that is something to be proud of in Dr. Hunt's position. It is far more profitable for banks to operate online than to have a physical presence and it is an objective of the bank's shareholders for the bank to be profitable. There is no doubt that the decision to withdraw cash services from these banks was made on the basis of increasing the bank's profit and making it more competitive with potential new entrants that only have a digital presence.
It is fair enough to say that. The only problem with this is that it has a human cost. The debate society has to have on this is bigger than AIB. Many people are living more isolated lifestyles than even before. I am talking about people who no longer have a post office or pub to go to and who have no Garda station or bank in their village any more. These people are not talking to people from one day to the next. There is also a significant increase in the incidence of mental health issues in society. There is definitely a correlation between people becoming more insular and the incidence of mental health issues. As a partner in the society we live in, I believe AIB has a corporate responsibility to ensure a baseline of human activity with customers. Does Dr. Hunt agree?
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