Finance Minister says his hands are tied on Bank of Ireland closures
The Finance Minister says he can't overrule the decision of Bank of Ireland to close dozens of branches across the country despite having a minority shareholding in the bank.
88 branches in the Republic are due to shut with the first closing its doors in September.
It comes as Cork TD Pat Buckley is to host an online public meeting next Tuesday March 9th at 7pm where calls will be made for branches in Cobh, Youghal and Mitchelstown to stay open.
Finance Minister Paschal Donohoe says his hands are tied.
"As Minister for Finance, I cannot mandate or overrule the internal decision making process in any bank, even one in which the State has a shareholding, and in this case a minority shareholding.
"Decisions in this regard are a commercial matter, and the sole responsibility of the board of management of the banks, which are run on an independent and commercial basis."
More from Cork
-
Lord Mayor Of City Felt Privileged To Represent Cork During Such A Difficult Time As He Faces Into Last Month In Office
Councillor Joe Kavanagh will be handing over the mayoral chains outside of City Hall for the first time ever on June 18th due to the pandemic
-
Expert calls for people to reduce meat intake
Eating too much meat can increase the risk of serious illnesses by as much as 30%.
-
International Care Day Is Being Celebrated At The Bessborough Centre In Blackrock Today
The event highlights the positive impact of the experience of young people in care
-
UPDATE: Teenage Girl Killed And Three Teenage Boys Injured In Knocknaheeny Crash
It's understood the teenage driver of the car fled the scene on foot
-
Angry Farmers To Stage Protest Outside Aldi in Mitchelstown Later
They're appealing to retailers to come to the talks table
-
UPDATE: Toddler Who Was Injured At Her Home On The Boreenmanna Road Has Died
The two year-old was rushed to hospital with traumatic head injuries