Business groups urge probe to ‘break up’ AIB

Business and consumer groups have called on the Government to launch a probe into the grip that Allied Irish Banks and Bank of Ireland have over Irish banking and to consider the possibility of breaking up AIB to boost competition.

Consumer advocates the Consumers’ Association of Ireland and small business group ISME say the Government has a once-in-a-lifetime opportunity to unpick an effective banking duopoly and hive off parts of AIB to promote competition, as it ponders the best timing to offload the huge taxpayers’ stakes in the banks.

The Small Firms’ Association said it wants the newly merged watchdog — the Competition and Consumer Protection Commission — to insist that the banks here publish a full list of their business banking fees.