Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank Deputy Doherty for raising an array of very important matters. In the time that is available to me I will make a point about each of them. First, he asked about the larger role PTSB may play within Irish banking in the aftermath of Ulster Bank leaving. My Department has engagement with PTSB and if it is commercially viable and makes sense for the shareholder, which is in this case the Irish taxpayer, we would be supportive of transactions taking place that would strengthen the role of AIB and, in particular, PTSB. I am not in a position to answer the questions the Deputy has put regarding what that would mean for the branch network and staff because there are currently negotiations under way on that matter. Ultimately, PTSB will have to be able to conclude those negotiations and then make a recommendation to me, as a shareholder on behalf of the Irish taxpayer. When those negotiations are concluded, I, indirectly, and Permanent TSB will be able to answer the questions Deputy Doherty has raised. I stress the importance of the statement made by NatWest in which it emphasised its willingness to engage with other banks that provide the full array of retail services within the Irish banking sector. I also emphasise my hope that the negotiations that are under way will allow that aim to be met, while also coming up with transactions that are sustainable for the two banks in question.

I recognise the concern Bank of Ireland's decision to close several branches across the country is causing in many communities at the moment. In emphasising my concern for how this has affected many, I must make clear that I do not have a role in this and cannot mandate the bank on what is a commercial decision. There is now an opportunity for An Post to investigate what services it can provide to meet the community needs that Deputy Doherty has described. The Minister of State, Deputy Fleming, has also spoken about the opportunity for the credit union movement in meeting some of these needs.

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