Hello,
Can someone please explain to be the logic for keeping EBS open, as a seperate entity to AIB?
It's a failed entity, that had to be rescued.
It continues to offer very limited services.
It's owned by AIB, so it's not additional independent competition in the marketplace. I'd argue the same point about Haven, btw.
It's not a mutual society, so not returning it's profits for the benefit of its members(customers).
If it was to be sold off very soon, okay, then I see a logic, on the same way as UCS was sold off by BoI, but that doesn't seem to be the plan here.
Running it as a seperate brand is just adding costs to AIB's bottom line. Thats taking away from posdible investment for the benefit of AIB customers, or reducing funds available to repay the State, or distribute to all shareholders.
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