Bank of Ireland is to call for a debate on the future of the country’s banking sector following the exit of Ulster Bank from the market. It was announced last month that Ulster Bank, the third-biggest lender in the State, is to be put into wind-down, marking the biggest development in the banking market since the height of the financial crisis. Ms McDonagh will tell the committee that Bank of Ireland is “fully” committed to taking part in such a debate. Ms McDonagh will tell the committee that the bank “notes the decision by the board of Davy to proceed with a sale of the company. She will also cite the impact of increasing competition on the sector, including from fintechs and international financial services firms.

Source: The Irish Times March 23, 2021 05:30 UTC