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Banking Industry in Ireland

Updated on Wednesday 26th October 2016

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Banking-Industry-in-Ireland.pngThe banking industry in Ireland is very important for the stability and the development of the local economy. The banking system in Ireland is very solid and regulated by a set of legislations which have incorporated the European Union’s (EU) directives. The main regulatory body for the Irish banking industry is the National Bank of Ireland, which provides regulations for the commercial banks operating on this market, for the investment funds registered here, regardless of their nature and for other financial companies. Investors who are interested in Irish company formation can receive more details from our team of company formation specialists in Ireland

 

Banking services provided in Ireland 

Investors who want to open an Irish company registered as a bank have to follow a set of regulations imposed by the National Bank of Ireland. A bank in Ireland is registered to provide various banking services to a wide area of customers, who can be natural persons, legal entities or various institutions and our team of company registration agents in Ireland can offer more details on the general services provided by the Irish banks
 
As a general rule, most of the Irish banks provide the following services: 
 
investment services, which can refer to a wide range of financial services, such as managed funds, bonds, insurance products;
loan accounts ;
mortgage accounts;
deposit accounts;

 

Banking instruments in Ireland 

When registering a bank in Ireland, it is important to provide competitive services and to use modern instruments, which should facilitate the needs of any client. Irish banks usually provide the following financial instruments
 
international payments;
online banking services;
automated teller machines;
debit cards;
credit cards;
financial transfers. 

 

Irish banking industry 

In 2015, the Irish economy was nominated as the fasted growing economy in the European Union. The banking sector, which encountered various financial issues in the past years (similar with other European economies), regained its financial power. During this year, the Irish public debt is projected to decrease, from 123,3% (as registered in 2013) to 106,6%, which marks an outstanding improvement of the financial situation of this country. 
 
Businessmen who want to receive more information on the banking industry in Ireland are invited to address to our team of Irish company formation consultants
 

Comments

  • Jennifer 2016-09-21

    Very intersting article! Good job!

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