Gerald Nash (Louth, Labour)
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161. To ask the Minister for Finance if he, or any of his Departmental officials, were provided with any prior written or verbal notice regarding the decision of a bank (details supplied) on 21 July 2022 to terminate cash services at a number of its branches; if he or his officials were in possession of a document before the bank’s announcement of the decision to terminate cash services at a number of its branches on 22 July 2022; and if he will make a statement on the matter. [46206/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I wish to highlight, as Minister for Finance, I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding. Decisions in this regard, including AIB's original announcement on 19 July 2022 to re-purpose 70 of its branches across the country, are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The bank's independence is protected by a Relationship Framework which is a legally binding document that cannot be changed unilaterally. This framework, which is publicly available, was insisted upon by the European Commission to protect competition in the Irish market.

Papers made available to the Department of Finance via a secure web-link in advance of the June AIB Board Meeting included a proposal on a reconfiguration of some AIB branches but with no firm announcement date. Department officials do not attend board meetings for any of the banks in which the state has a shareholding.

A Department of Finance official met with AIB officials on 15 July 2022 where he was advised that an announcement of branch reconfiguration would be made on 19 July 2022. It was noted that this was a commercial decision for the board and management of the bank, that no branches were being closed and that an enhanced arrangement was in place with An Post to provide cash services via the post office network.

The Department’s executive board was briefed on the next business day, 18 July 2022, and I was informed the day after that.

On 22 July 2022, recognising the customer and public unease that this decision caused, the bank decided not to proceed with the proposed changes to its bank services. AIB continues to retain its 170-strong branch network in its entirety and will also continue to offer banking services through its relationship with at An Post at its 920 post offices nationwide.