Foreign banks apply for guarantee

FOREIGN banks operating in Ireland scrambled for inclusion in the Government’s guarantee scheme yesterday.

Postbank, a joint venture with An Post and Europe’s Fortis; Belgian-owned IIB Bank; and Dutch owned ACC have all applied to join the scheme as have Ulster Bank, Halifax and Investec.

Postbank said the guarantee has the potential to be a factor in consumer saving decisions and on that basis alone, it has been in contact with the Department of Finance to discuss the possibility of inclusion.