Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

238. To ask the Minister for Finance his Department’s estimate of the number of jobs lost in the banking sector here in the past two to three years; and if he will make a statement on the matter. [8291/14]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

In the past five years seven banks have ceased operating in Ireland or have been merged into another institution (Anglo Irish Bank, Irish National Building Society, ACC, Bank of Ireland Scotland, Postbank, EBS and First Active).

My Department has the following data available in relation to the reduction in staff numbers at Irish banks in the last three years:

As regards permanent tsb, staff numbers have fluctuated due to its separation from Irish Life and also due to the need to recruit some additional staff. As of December 2012, the total number of full-time equivalent staff in permanent tsb was 2,305.

There were 1,182 staff in IBRC at end December 2011. All staff were made redundant on the date of liquidation (7^th Feb 2013). However many were rehired immediately to assist with the liquidation. There were 566 staff remaining at end November 2013.

Ulster Bank announced a reduction in staff numbers of 950 in 2012 and the implementation of this process is ongoing. The Deputy will be aware that RBS is conducting a review of Ulster Bank to identify a viable and sustainable business model to support the Northern Irish and Irish economies. The report is expected this month. I am pleased with this commitment by RBS to remaining in the Irish market and look forward to hearing details of the business model.

It is important to note that, whilst staff numbers have reduced in certain institutions, some of these jobs have been outsourced and overall numbers employed have not suffered the full reduction.

In fact, employment in the sector increased in 2013. The Quarterly National Household Survey (Q3 2013) shows the seasonally adjusted quarterly change in employment for those in the Financial, Insurance and Real Estate sector. Between Q2 and Q3 2013 there was an increase of 1,600 jobs in the sector.