Overview of Banks in Ireland

The Irish banking system operates on a similar basis to that in the UK. Currently, there are 64 banks in Ireland.

The role of the Central Bank of Ireland (CBI) is similar to that of central banks in other developed countries.  The CBI is responsible for central banking functions and financial regulation. in the country. In 2010, a new CBI structure was created, replacing the three previously related entities: the Central Bank, the Financial Services Authority of Ireland and the Financial Regulator.

All banks operating in Ireland must be licensed by the CBI. Banks in Ireland comprises of:

  1. Retail banks that provide general banking services, including comprehensive current account services and mortgage facilities
  2. Banks that operate in the International Financial Services Centre (IFSC)

According to Moody’s, the outlook for the Irish banking system is positive due to expectations that operating conditions for the country’s banks will continue to improve.

For anyone considering a career in banking in Ireland, this list is a helpful guide on where to start.  To learn more, see our lists of financial institutions.

 

Banks in Ireland

 

The top banks in Ireland are:

 

Allied Irish Bank

Established in 1825, Allied Irish Bank is the largest retail and commercial bank in Ireland. The bank is headquartered in Dublin and employs 10,000 staff. It provides deposit products, loans, financial planning services, investment, pension cash management and online banking, foreign exchange, interest rate risk management, and mobile and tablet banking services. It also offers various insurance products and operates through a network of 200 branches across Ireland and offices in the UK and US.

In 2016, the bank reported total assets of US$113 billion and a net profit US$1.97 billion.

 

Bank of Ireland

Bank of Ireland is one of the largest and safest banks in the country. The bank provides products and services such as mortgages, credit cards, savings, personal loans, current accounts, foreign exchange services, prepaid cards and business banking products. It employs around 11,000 staff across 250 branches.

As of 2016, the bank’s total assets were US$114 billion and total income was US$3,880 million.

 

Ulster Bank Ireland

Founded in 1836, Ulster Bank Ireland is a subsidiary of Royal Bank of Scotland Group. The bank provides personal banking products and services, private banking services, as well as home and car insurance products. It currently employs around 2,451 staff.

In 2016, the bank’s total assets amounted to US$43 billion and net profit reached US$44 million.

 

DePfa Bank

DePfa Bank was established in 1922 and is a subsidiary of FMS Wertmanagement AoR. The bank provides banking, financial, and related services to public sector clients worldwide. It also acts as a special purpose vehicle for Tier 1 capital raising.

In 2016, the bank reported total assets of US$33 billion and a net loss of US$2.37 million.

 

EBS d.a.c

EBS was founded in 1935 and is headquartered in Dublin. The bank provides mortgage lending, savings, investments, and insurance arrangement services. It also offers life, specified illness, income protection, home, and mortgage payment protection insurance products; personal retirement savings accounts; and online banking services through a network of 71 offices.

As of 2015, the bank’s total assets were US$15.37 billion and net profit was US$230 million.

 

KBC Bank

Established in 1973, KBC Bank was created as an Irish Intercontinental Bank. It employs more than 1,000 individuals across its branches in Dublin, Cork, Limerick, Galway, Kilkenny, Waterford and Kildare.

In 2016, the bank’s total assets amounted to US$15 billion and net profit reached US$268 million.

 

UniCredit Bank

UniCredit was incorporated in 1995 and provides various banking and financial services in the Republic of Ireland, Italy, the United Kingdom, and Spain. It offers various loan products, credit and structured finance and other forms of asset financing, and treasury products. Formerly known as UniCredito Italiano Bank (Ireland) PLC, the company changed its name to UniCredit Bank Ireland PLC in December 2007.

In 2016, the bank reported total assets of US$1,019 billion and operating profit of US$22 million.

 

Permanent TSB Group

Permanent TSB provides retail financial services in the Irish domestic banking market. The group offers a broad range of banking products and financial services to its customers, including current accounts, retail and corporate and institutional deposits, residential mortgages, term loans, credit cards and overdrafts, as well as general insurance, pensions, investments and life insurance (through a bancassurance arrangement).

As of 2016, the group’s total assets were US$28 billion and operating profit was US$547 million.

 

Danske Bank

Danske Bank was founded in 1986 in Dublin. It was formerly known as National Irish Bank. The bank is organized into three business units: Personal Banking, Business Banking, and Corporates and Institutions. It employs 1,289 staff as of 2016.

In 2016, the Danske Group’s total assets amounted to US$557 billion and operating profit reached US$3.16 billion. Danske Bank Ireland posted an operating income US$331 million.

 

CitiBank (Ireland)

 Citibank is the first foreign bank to open a branch in Ireland. It came into existence in 1965. The bank provides various banking products and services, such as investment and trade services, custody and trustee services, fund administration, cash management, wealth management, corporate finance and other financial services.

Dublin hosts a Citi Service Centre, one of four in the EMEA region that services businesses in more than 52 countries. Citibank Europe PLC is an Irish-regulated bank headquartered in Dublin and offers a diversified product base covering 20 global and regional products. The bank operates branches in Poland, the Czech Republic, Hungary, Slovakia, Romania, and Bulgaria.

 

Careers in investment banking

To break into investment banking, there are several important things to focus on.  These include networking, resume, experience, and financial modeling skills.  To learn more, explore our interactive career map….

investment banking careers

For banking careers, you will have a significant edge over the competition with our financial modeling courses.

 

Additional resources

This has been a guide to the top banks in Ireland.  For anyone looking for a career in banking, this list is a great place to start your networking.  Please also see these additional resources: