IL&P keeps eye on other bank moves

IRISH Life & Permanent has definite plans to develop the banking arm of its business, but will wait until the restructuring of the other banks have been put in place before any moves are made.

Speaking after the group’s AGM in Dublin, chief executive Kevin Murphy said the group sees potential link-ups down the line as part of the consolidation of the Irish banking sector.

Bank of Ireland is to sell its ICS Building Society unit and that could be a potential fit with the bank, he said yesterday.