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Ireland can expect 'meaningful share' of Brexit moves - central bank
May 30, 2017 / 5:17 PM / 7 months ago

Ireland can expect 'meaningful share' of Brexit moves - central bank

DUBLIN (Reuters) - Ireland’s financial services sector can expect to receive a “meaningful share” of activities that will move from Britain as a result of Brexit, a senior central bank official said on Tuesday, citing feedback from its many meetings to date.

Storm clouds are seen above the Canary Wharf financial district in London, Britain, August 3, 2010. REUTERS/Greg Bos/File Photo

Ed Sibley, the central bank’s director of credit institution supervision, added that the Brexit impact on domestic retail lenders in Ireland had been manageable to date with no material deposit outflows or significant deterioration in credit quality.

However, he told a parliamentary committee that while banks do not currently foresee any material deviation from their strategies, there have been some reductions in forecast loan book growth and subsequent profitability estimates out to 2019.

Reporting by Padraic Halpin; Editing by Edmund Blair

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