Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

The Senator is rightly using his time in this House to articulate the concerns of people in this area. He is also setting down a very strong marker for the bank in respect of what may occur following the rationalisation decision. He is fully within his rights to raise this matter publicly on the floor of this House. I would like to believe that, following this exchange, the bank will, at the very minimum, respond to the Senator on his clear reservations about its decision and set out in a concrete way the reasons it is closing the branch in question. I would like to believe it will meet the Senator not only to explain its position but also to assuage him regarding the concerns he has raised publicly.

We need a totally new banking culture in this country, not only in terms of lending decisions but also in terms of knowledge of local communities. Bank personnel ought to understand what represents a good or bad risk in their communities. We need a new culture of respect for and engagement with communities. I refer to the very communities that have been loyal supporters of the banks over many years and which did not put the banks into the appalling circumstances in which they now are and from which the State had to bail them out. I very much hope the senior management of the bank will respond to the Senator to assuage his concerns and set out in clear, concrete terms the rationale for its decision and the result of its cost-benefit analysis. If the bank cannot do so, it will lose business, as the Senator stated. This would be to the detriment of its interests, profitability and viability in the long run. I thank the Senator for raising this matter.