Bank takeovers ‘could impact consumers’

FINANCIAL services union Amicus has warned foreign takeovers of Irish banks could have “serious implications” for Irish consumers.

Deputy national secretary Jerry Shanahan said the prospect of AIB or Bank of Ireland being taken over was a constant threat and would create a banking monopoly that would effectively eliminate competition.

Speaking at the union’s annual conference in Ennis, Co Clare yesterday, Mr Shanahan said employment in the Irish financial services sector had remained strong during a period of relatively slow growth and economic uncertainty.