Holly Cairns (Cork South West, Social Democrats)
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140. To ask the Minister for Communications, Climate Action and Environment if he will outline his engagements with the Minister for Finance concerning An Post being a provider of community banking services. [55431/22]

Bríd Smith (Dublin South Central, People Before Profit Alliance)
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143. To ask the Minister for Communications, Climate Action and Environment if his Department is reconsidering allowing post offices to become community banks, permitting them to provide all financial services and facilities that banks currently do but with increased advantages and value for communities and ensuring the survival of these important service providers into the future; and if he will make a statement on the matter. [55462/22]

Hildegarde Naughton (Galway West, Fine Gael)
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I propose to take Questions Nos. 140 and 143 together.

An Post is a commercial State body with a mandate to act commercially. It has statutory responsibility for the State’s postal service and the post office network. Decisions relating to the network, including those in relation to the size, distribution and future of the network are operational matters for the Board and management of the company. An Post will continue to actively seek and win new business and to explore opportunities to develop new or enhanced product lines for the network.

An Post is transforming its retail network by delivering new products and new formats. This includes, among other things, diversifying and growing the financial services products it provides for individuals and SMEs to include loans, credit cards and more foreign exchange products, local banking in association with the major banks and a full range of State Savings products. An Post is providing agency banking services for a number of leading banks including AIB, Ulster Bank and Bank of Ireland.

The Department of Finance is conducting a broad ranging review of the retail banking sector. As part of the Review, stakeholders, including members of the public, were invited to make submissions to the Department of Finance on issues that fall within the published Terms of Reference. These submissions were by way of a public consultation process launched at the Retail Banking Review dialogue in Tullamore on 16th May.

Over 100 delegates attended the dialogue, including the retail banks, An Post, Fintech companies, Trade Unions, Credit Unions and the community and voluntary sector. The public consultation process concluded in July and over 100 submissions were received and are currently being reviewed by the Department of Finance.

I understand that the Review team are well advanced in drafting their report and is in line to report to the Minister for Finance later this month.