I read today in the media that Revolut will launch deposit accounts for Irish customers. There is a lot of change in the banking sector at present. In light of this and the impending departure of Ulster Bank and KBC from the Irish market, I would be obliged if the Minister would give us a status update on the review being undertaken into the retail banking sector, particularly as we head into potentially more uncertain economic times with potential implications for interest rates.

I thank the Deputy for raising this matter. The review is reasonably well advanced. In a few months' time we will organise a public stakeholder event to which we will invite all who have views regarding the development of our banking sector, whether it be the digital providers to which the Deputy has referred or, for example, Sparkassen and the community banking needs that have been debated for so long. We will invite them all to a public event and seminar to hear their views and integrate them into the work we are doing.

The Deputy is right that huge change is under way in our banking sector in Ireland. It is also worth making the point that despite the changes to which the Deputy has correctly referred, our financial services sector and our banking sector have certainly emerged from the previous economic crisis of Covid having performed well. They avoided an escalation of non-performing loans and an escalation of those in mortgage distress. The Deputy is correct that huge change is under way. I will let interested Deputies know about the event. It would be great to give them the opportunity to participate.