Minister O’Donovan welcomes appointment of Danske Bank for provision of Government Banking Services

Minister of State with responsibility for Public Procurement, Patrick O’Donovan TD, has today (Tuesday) announced the conclusion of a Framework Agreement with Danske Bank, supported by An Post, for the provision of Government Banking Services. The appointment follows a competitive tendering process undertaken on behalf of Government by the Office of Government Procurement (OGP).

The Government’s objective in conducting the public procurement competition was to identify the most economically advantageous arrangement for the provision of an efficient, streamlined, cost-effective banking structure for Government Departments and Offices. The solution had to provide the maximum degree of integration with the new Financial Management Shared Service, which commences roll out this year.

Service requirements cover the following three key components;

1. A new pooled banking structure to support the funding and operation of Government Departments and Offices

2. Ring-fenced bank account(s) facilities for a number of separate funds including, but not limited to, the Social Insurance Fund, Local Government Fund and National Training Fund. In addition, a number of other accounts may also be opened but will not be part of the Pay Master General pooling arrangement

3. A banking service to provide transactional services to facilitate tax collection for the Office of the Revenue Commissioners

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