'Last thing we needed' - consumer groups react to exit
Business Journalist Upward pressure on interest rates and banking fees in the medium term will be likely impact of Ulster Bank's decision to withdraw from the Irish market. The withdrawal of the third biggest lender from the market will reduce competition, particularly in the SME sector where Bank of Ireland and AIB are the main alternative credit providers. Price comparison website bonkers.ie described the move as a body blow for consumers and competition, adding that the withdrawal was 'the last thing we needed'. However, Daragh Cassidy, Head of Communications with bonkers.ie pointed out th...