The Government has no plans to set up new banks, the Minister for Public Expenditure Michael McGrath has said. “There has been a lot of talk for many years about setting up new banks and public banking. To my mind the credit unions are a form of community banking. The Minister acknowledged that the Government was a minority shareholder in Bank of Ireland, holding a 14 per cent stake. He said there were also opportunities for credit unions to continue to expand the range of services they offered.

Source: The Irish Times March 02, 2021 16:39 UTC