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Ireland wants a new big player to boost banking sector -fin min
March 1, 2014 / 2:21 PM / 4 years ago

Ireland wants a new big player to boost banking sector -fin min

DUBLIN, March 1 (Reuters) - Ireland would like a “significant” new bank with a big balance sheet to enter its lending market this year to drive competition in the diminished sector, finance minister Michael Noonan said on Saturday.

In his speech at Fine Gael party’s annual conference, Noonan said that he would like to see a third viable bank, a “third significant player”, in the country.

“We are talking about a bank with a big balance sheet... I‘m exploring it. I know there are people interested. In the course of this year, it would be nice to get these things done before banking union.”

Noonan added that he absolutely wanted permanent tsb , currently the third-largest domestic-owned lender in the country behind Bank of Ireland and Allied Irish Banks, to remain part of the banking sector.

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