Bank merger would mean monopoly, say ISME

The ISME has criticised any proposal of a merger between Bank of Ireland and AIB.

The Irish Small and Medium-sized Enterprise are insisting that any kind of merger would mean a monopoly and that would not suit the public in general.

Chairman of ISME Noel O’Sullivan made the statement after a remark from the Competition Authority calling for more competition in Irish banking.

Mr O’Sullivan maintained that if there was a merger the two banks would control 80% of the market share.

He also stated that there is a poor service from both banks at the moment.