Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

That is not accurate. IDA Ireland was very active with Bank of America in the process of seeking a buyer. Clearly, that issue was pursued, both nationally and internationally. As the Deputy knows, they succeeded in finding a buyer for the domestic book but not for the UK book. From the MBNA's point of view, declining volumes of activity and its very substantial site in Chester resulted in it making a decision that we could not overcome. The point about the inter-agency group is that obviously there are new needs in terms of the role of social protection, training and other bodies in that context. There was very active engagement. I engaged frequently with Bank of America during tht process as it sought interested buyers for the book. Clearly, there is a very talented workforce with a very high level of experience in terms of compliance in the financial sector. We continue to work really hard to pursue an opportunity.

See this speech in context