Exclusive: state to block German entrant to banking market

The government is going to block the development of a German-style public banking service, in a move which will dash hopes of an increase in banking competition.

The German public savings bank Sparkassen had been seeking state support to offer business loans here at interest rates of 1-2 per cent, which would be substantially below current interest rates of 4.15 per cent.

But The Sunday Business Post has learned that the Department of ...