Oireachtas Joint and Select Committees

Wednesday, 8 December 2021

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

Withdrawal from Irish Banking Market: Engagement with Ulster Bank

Ms Jane Howard:

As the Deputy noted, the transaction with AIB has come to a binding agreement. Work continues with AIB to plan, within the constraints allowed by the CCPC, to manage the transfer. The notification was submitted to the CCPC and last week we heard that we could expect to hear at some point in January whether there would be a phase 2 of the CCPC process or if it would end at phase 1.

That is the current state of the process.