Ian Guider: A banking duopoly would be as bad for Ireland’s interests as a limit of two supermarkets

We can’t afford to lose any more banks, so let’s revisit the idea of local banking or make the Strategic Banking Corporation of Ireland a standalone entity

28th November, 2021
Ian Guider: A banking duopoly would be as bad for Ireland’s  interests as a limit of two supermarkets
The designation of AIB and Bank of Ireland as pillar banks may end up costing consumers. Picture: Getty

Back in early 2002, Michael Soden, who had recently been installed as chief executive of Bank of Ireland, floated the controversial idea that the best interests of banking in this country would be served by a merger with AIB.

His thinking was that one strong, Irish-owned and controlled bank would be much better than international lenders coming in and snapping up either of them. At the time, cross-border mergers in banking were common.

The danger of...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Citigroup tells staff in Ireland that they won’t have to get vaccinated to keep their jobs

And then there were three: core banks look to the future after an eventful 2021

Peter O’Dwyer: Why BoI sell-off was the template for state reducing its AIB stake

Donohoe announces plan to reduce State-owned stake in AIB