Depositors flock to foreign banks

Foreign-owned retail banks operating in Ireland have seen cash inflows surge in recent weeks, amid consumer fears for the safety of their deposits in Irish-owned banks.

20th November, 2010

Foreign-owned retail banks operating in Ireland have seen cash inflows surge in recent weeks, amid consumer fears for the safety of their deposits in Irish-owned banks.

Roel van Veggel, the head of RaboDirect, said the bank had seen an increase in consumer enquiries in the last two weeks.

‘‘We saw substantial increases in call volumes, new account openings and money inflow,” he said.

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