Ireland That Ireland’s banking system had total assets approaching nine times GDP in 2008 is a headline fact which tends to mislead. Four different categories of bank can be identified in this total figure (Figure 3). First – making up about 44 per cent of the total – were the locally controlled banks which serviced the domestic economy.
Accordingly, I have held a number of discussions with bankers on this subject over the last year, including many direct conversations with the senior bankers who have expressed the most concern about the issue.