Banking System
Ireland has a well-developed and highly sophisticated banking infrastructure that has experience in handling the requirements of overseas companies. The banking sector is licensed and regulated by the Irish Financial Services Regulatory Authority (IFSRA).
Irish licensed banks can be classified into three main categories:
- clearing banks;
- merchant and commercial banks; and
- industrial banks.
The main clearing banks are AIB, Bank of Ireland, National Irish Bank and Ulster Bank and these provide a full range of banking services, including foreign exchange dealing and hedging activities. Many international banks are represented in Ireland for commercial lending and foreign exchange facilities.
All major European banking institutions are present in Ireland. Some of the major banking institution operating in Ireland include:
ABN AMRO
ACC Bank
AIB Group
Bank of Ireland
First National Building Society
Ulster Bank Group
