Oireachtas Joint and Select Committees

Wednesday, 19 October 2022

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

Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland

Ms Elizabeth Arnett:

In the first tranche of customers, we know for sure that more than half of the accounts are closed. We know there is less reliance for a grouping of customers and we know there is heavy reliance for some customers. The heavy-reliant customers will not enter into the freezing and closing process at this point. We are, however, continuing to contact them to have conversations with them as to what is going on. They have had six months’ notice and there has been a very public campaign.