Matt Shanahan (Waterford, Independent)
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186. To ask the Minister for Finance if his Department has been engaged in the licensing and development of further banking services through the post office network utilising its approximately 900 retail outlets given that the network has signalled for a number of years its declining revenue horizon which resulted in the Government recently committing €30 million over three years to support same. [31005/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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This is a matter for my colleague the Minister of Environment, Climate and Communications as An Post is a body under his remit.

However, as you may be aware An Post is authorised by the Minister for Finance to provide payment services and is regulated by the Central Bank of Ireland in the provision of these services. An Post is authorised under S.I. No. 170/2016 - Postal and Telecommunications Services Act 1983 (Section 67) Order 2016. An Post is also authorised as a credit intermediary by the Competition and Consumer Protection Commission.

For the Deputy’s information, An Post offers counter services for AIB, allowing customers to lodge and withdraw cash at An Post branches. Bank of Ireland has also has a partnership with An Post to provide a range of banking services. These are commercial arrangements between the banks in question and An Post.

The changes currently underway in the Irish retail banking sector are a reflection of the wider challenges the banking sector is facing, not only in Ireland but also abroad. It is because of these changes that I have instructed my Department to undertake a broad-ranging review of the retail banking sector, which is currently taking place.

A public consultation is open on the Department’s website where members of the public can make a submission to the Department of Finance on issues that fall within the Terms of Reference by 08 of July.