Why Ireland needs a diverse banking system
Updated / Monday, 1 Mar 2021
09:33
Bank of Ireland says it will close 103 branches in the Republic of Ireland and Northern Ireland
Analysis: lessons from Ireland and Europe show the importance of discernibly different bank types
The news about Bank Of Ireland branch closures and the recent Ulster Bank announcement have raised concerns about the competitiveness of Ireland s banking market. Market competition may well be best served in the short term by the entrance of a so called third force, but longer-term sustainable development and system resilience would be better served by fostering the development of a diverse bank types with discernibly different behaviour and focus.