Brian Cowen (Laois-Offaly, Fianna Fail)

In the private banking sector there are commercial considerations that management and boards from to time to time consider. The most recent one related to the Bank of Ireland. I have made my position known, namely, that in the context of social partnership, I hope the legitimate interests of staff are taken into account in regard to these matters. I have no doubt but that the bank's staff unions and associations will more than adequately represent staff interests and that there will be agreed procedures to determine the overall repositioning of the bank in competitive terms that will meet an agreed outcome between all the stakeholders in the bank, including the staff.

There is also another issue. We are talking about the need for competition and competitiveness for banking and ensuring lowest possible costs to the customer, with which I agree. However, if it emerges that achieving that changes the traditional branch system to some extent, although I do not believe that is envisaged in the Bank of Ireland where such a change would be major, it would provide an opportunity for organisations like An Post to do that sort of business for a bank in loco or instead of the bank. An Post would make sure there is a face to face banking facility even in our smaller towns and villages where there may be pressures due to the level of activity in bank branches where the services they provide may be considered for relocation. Instead of viewing such changes as threats, they may present opportunities. Certainly in the context of An Post's position, such outside the box thinking may be required as part of the resolution of the problems that exist there.

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