Spain's Bankinter takes on Irish banks with deposit move [Reuters]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
The move by Spain's fifth-largest bank by market value is seen as a significant boost for competition in Ireland, where retail banking is dominated by three Irish lenders - AIB , Bank of Ireland and Permanent TSB Report this ad Bankinter said it would operate in Ireland under its own brand to offer all kinds of financial products to customers. Ireland's financial crisis led to the withdrawal of Bank of Scotland (Ireland) and Danske Ireland from the market, while the last two international banks, Ulster Bank and KBC Bank Ireland, decided three years ago to wind down their operations. Irish Finance Minister Michael McGrath said in a statement he welcomed Bankinter's intention to seek regulatory approval for a full banking licence. Bankinter, which last week beat market forecasts with a 9% year-on-year rise in the first quarter, began operating in Ireland in May 2019 through Avant Money, a company focused on consumer lending and regulated by the Central Bank of Ireland. The
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- 5/3/24 - Form 6-K
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- LYG's page on the SEC website