Farming group says Ireland needs banking competition

"Why every new bank that comes into the Irish market seems to arrive at the same conclusion after a couple of years and then leaves."

Pat McCormack: 'Our situation means higher charges, higher interest rates, more onerous loan conditions, less flexibility, all because there’s no competition.'

Farming organisations have joined the chorus of complaints over the lack of competition in Ireland's banking sector following Friday's announcement by KBC that it intends to exit the market in Ireland.

It follows a similar decision made by Ulster Bank in February.