Moreover, delivery for your customers requires that retail banks are financially and operationally resilient, well-governed, understand and manage their risks and have sustainable business models. Whatever changes come to products, services, delivery channels and customer expectations, these fundamentals will remain of crucial importance and will continue to form the basis of the Central Bank’s approach to the prudential supervision of the retail banking sector.
Thank you for your attention. _____________________________________ [1] With thanks to Marie Duffy, Joe McCullough, Micheal Kelly, Padraig Browne and Mary-Elizabeth McMunn for their help in drafting these remarks. [2] Irish Banking Culture Board: Changing Banking Culture in Ireland. [3] Central Bank of Ireland: New Requirements Introduced to Provide Additional Transparency and Facilitate Mortgage Switching (20 June 2018).