Damning report on banks welcomed

REGULATIONS in the Irish banking sector have seriously restricted entry to the Irish market, said Competition Authority chairman John Fingleton yesterday.

Several banks have indicated they would set up here if the market was more open, Mr Fingleton said.

While refusing to name the banks, he said research into the report led them to identifying several banks that are not in the Irish market, but who would be interested in getting in here if the climate was right.