Meath West TD, Peadar Tóibín, has blasted the decision by Bank Of Ireland to shut down three of his branches in county Meath,
He told Meath Live,
“The closures of Bank of Ireland branches in Enfield, Athboy and Ratoath is a hammer blow from these towns. Athboy as suffered a double whammy as it had just recently lost its Ulster Bank branch”.
“The fruits of the dysfunction within the Irish Banking Marketing are coming home to roost. For over a decade now FG has engineered a banking market with two pillar banks. These two pillar banks wield enormous supplier power meaning they control every aspect of customers engagements. Customers have to accept any decisions these banks make because they have nowhere else to go. This is getting worse due the exit of Ulster Bank from the Irish market”.
“Market dysfunction is not unusual in Ireland. The Housing sector, the Beef sector the Insurance sectors are all examples of how Government economic incompetency is damaging enterprise and the fabric of Irish society”.
“The decision to close these 3 branches in Meath is a disaster for staff, customers and small businesses. Business have been struggling to stay functioning through Covid and now one of the major draws to towns, banks are to close. Rural and regional Ireland that has previously seen banks and Post Office close. The government has to decided one and for all. Does it want to turn regional Ireland into a commuter belt for Dublin or will they secure an economic energy in the regions of Ireland”.
“I have formally requested that the Minister for Finance and the Sec Gen of that department come before the Oireachtas Committee to spell out to inject competition into the dysfunctional Irish Banking market. This needs to happen as a matter of urgency”