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TD Calls For Establishment Of Another Commercial Bank To Boost Competition

RedFM News
RedFM News

10:53 23 Jul 2022


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A TD is calling for another commercial bank to be set up to compete with existing banks.

Denis Naughton says yesterday's decision by AIB to reverse its move to cashless outlets was the right decision to make.

Its announcement earlier this week that it would remove cash services from 70 branches led to a public outcry and consequent u-turn.

Deputy Naughton says the Government must set up a new bank so people have options:

"I believe that that needs to be established by the state, using the two existing state banks, the Strategic Banking Corporation of Ireland and Microfinance Ireland, combined with the Post Office Network and the Credit Union Network to provide a viable alternative in communities, right across this country so that people have access to financial services, regardless of where they live".


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