Ian Guider: Big three banks sitting pretty as they wait for new customers to come calling
The departure of KBC and Ulster will release a lucrative abundance of personal account and business customers for the remaining three banks to divvy up
On the face of it, Ireland’s banking system endured a torrid 2021.
Two of the five banks that offer current accounts decided to leave. Several thousands of jobs were cut, mostly through voluntary redundancies. Branches across the country were shut and interest rates, for both consumers and businesses, remained the highest or close to the highest in Europe.
Look closer, however, and it becomes clear that the year could hardly have been better for the ...