Dáil Éireann - Volume 430 - 11 May, 1993

Written Answers. - Proposed Third Banking Force.

Mr. Molloy Mr. Molloy

17. Mr. Molloy asked the Minister for Finance the position regarding Government proposals for the creation of a third banking force within the State sector by merging ICC Bank and ACC Bank and by seeking a merger of the new entity with the Trustee Savings Bank; and if he will make a statement on the matter.

Mr. M. McDowell Mr. M. McDowell

67. Mr. M. McDowell asked the Minister for Finance the progress, if any, which has been made in recent weeks with regard to the third banking force proposed in the Programme for a Partnership Government 1993-1997.

Minister for Finance (Mr. B. Ahern) Bertie Ahern

Minister for Finance (Mr. B. Ahern): I propose to take Questions Nos. 17 and 67 together.

1069

The Programme for a Partnership Government envisages the creation of a vigorous Third Banking Force from within the State sector by merging ICC Bank and ACC Bank, and by seeking a merger of the new entity with Trustee Savings Bank. The Programme also [1069] raises the possibility of involvement with a major international bank.

It is intended that this issue will be pursued by the Government as quickly as possible. As a first step, officials of my Department have discussed it with the domestic financial institutions involved. These discussions were of an exploratory nature only and it would therefore be inappropriate to comment on them. It must be appreciated that in-depth analyses are only at the initial stages and it will necessarily be some time yet before preliminary conclusions may be formulated.

Dáil Éireann 430 Written Answers. Proposed Third Banking Force.

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