Ian Guider: An AIB-BoI duopoly is not what Irish banking needs
We seem to have drifted into a crisis in banking without realising it and need to acknowledge that concentrating all attention on the pillar banks has not delivered
It has been anything but a normal few weeks in the world of Irish banking. The third-biggest bank in the country is leaving for ever. The number one and two banks are each cutting 1,500 jobs and, in the case of Bank of Ireland, axing a third of its branches. Both banks have failed to meet their targeted returns.
To top it all, Davy Stockbrokers, the biggest securities firm in the state, has been rocked by...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
John Walsh: It’s easier to point the finger than remember the lessons of the crash
The same politicians who lined up to condemn Seán FitzPatrick are keen to mirror the fiscal policies that brought the country to its knees in the Noughties, namely ramping up spending and narrowing the tax base
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
John Walsh: State should sever ties with AIB and PTSB for their sake as well as ours
The costs and consequences could be significant if the state remains a major shareholder in the traditional banks as they try to compete in a digital market while hampered by pay restraints