Dáil Éireann Debate, Tuesday - 17 February 2026
500. Deputy Ged Nash asked the Tánaiste and Minister for Finance if he will reconvene the Banking Forum; if he will consider a joint initiative with the Minister for Finance in Northern Ireland, to hold a joint banking forum to plan and discuss with relevant stakeholder the future of banking on the Island; and if he will make a statement on the matter. [12745/26]
Amharc ar fhreagraThe Deputy will be aware how maintaining a stable and viable retail banking sector for the Irish economy has been, and continues to be, an area of critical importance for Government and for my Department.
My predecessor, Minister Donohoe, commissioned the Retail Banking Review in late 2021 in response to significant developments in the sector, including the decisions by Ulster Bank and KBC to exit the Irish market. The Review, conducted by officials in the Department with assistance from other Government agencies and Departments, was published in November 2022. It put forward a wide range of recommendations to improve the sector and improve customers' experiences.
The recommendations addressed critical matters such as access to cash, ongoing support for SME lending, developing a financial literacy strategy and preparing a new national payments strategy.
As part of the preparation of the Banking Review Report, a Retail Banking Dialogue was held in Tullamore in 2021. This provided a unique opportunity for wide-ranging dialogue on the banking sector and the insights and learnings from those discussions were incorporated into the Retail Banking Review report and recommendations.
Since then, my predecessors and I, along with officials from my Department, have maintained regular engagement with individual firms and industry bodies from across the banking industry.
I am aware of the publication, late last year, of the Banking in Northern Ireland report, which examines the changing environment of the banking sector in Northern Ireland.
However, at European level, my Department is actively engaged as we look ahead to the publication of the European Commission’s report on competitiveness in the banking sector, expected later this year. This report is anticipated to inform future changes to the European banking regulatory framework that apply to financial institutions operating in the State, with the aim of driving competition and innovation in the banking sector.
Continued engagement with the domestic banking sector remains essential as my officials work with our European colleagues to help shape and influence potential changes to the banking regulatory framework.
