228 billion dollars in increase in the balance sheets of Irish...

Britain’s exit from the European Union has accelerated the growth of Ireland’s financial services sector

The balance sheets of Ireland’s largest banks have risen by two-thirds since the Brexit vote, the latest data showing how the financial landscape in Europe is changing after the United Kingdom’s exit from the European Union.

According to Al Arabiya.net, and according to the report of the Association of International Banks in Ireland SSM, Irish banks subject to the supervision of the European Central Bank witnessed an increase in their balance sheets from 300 billion euros (342 billion dollars) in December 2015 to 500 billion euros (570 billion dollars). ) last July, an increase of $228 billion.

Since the Brexit vote in June 2016, Citigroup, Barclays and Bank of America have created or expanded units in Ireland subject to European Central Bank oversight, according to Bloomberg.

Ireland-based Chief Executive Officer Fiona Gallagher said: “While Ireland’s international financial services sector has grown steadily for decades, the UK’s exit from the European Union has accelerated this trend, and an influx of staff has followed. New Asset Management, Risk Management Experts and Investment Services activities to Ireland.

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