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Banks

UPDATE 1-Danske says to apply for Irish scheme coverage

(Adds background)

COPENHAGEN, Oct 2 (Reuters) - Denmark's Danske Bank A/S DANSKE.CO said it would apply for its subsidiary National Irish Bank to be covered by the Irish deposit guarantee scheme.

Danske acquired National Irish Bank in 2005, making Danske one of the few foreign banks in the republic. National Irish Bank holds a market share of 3 to 4 percent in most areas of retail banking, placing it about fifth among Irish banks.

The Irish government said on Wednesday it would consider case-by-case applications to join its deposit guarantee scheme from foreign banks with a significant retail presence in Ireland.

Ireland’s plan to guarantee the liabilities of six Irish-owned banks, unveiled on Tuesday to help maintain the stability of the financial system, had sparked competition concerns. (Editing by David Holmes)

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