CCI welcomes ESB deal

The Chambers of Commerce of Ireland (CCI) has today welcomed the increased competition in the banking sector with today’s announcement that the ESB has agreed to sell its chain of retail outlets to Bank of Scotland Ireland (BoSI) for the development of a branch network.

Speaking this afternoon, CCI’s head of public affairs Seán Murphy said: "This is good news for businesses and will almost certainly result in more competitive choices for bank customers.

"BoSI’s competitors are determined to hold onto their market shares and so will have to offer more competitive and creative products.

"This is particularly welcome in towns such as Newcastle West in Limerick, where, for example, the arrival of BoSI will increase the banking options in the town from three competitors to four.”