Ireland’s international banking sector continued its strong growth over the past year, with employment, business activity and technology adoption all increasing despite ongoing concerns about geopolitical uncertainty and regulatory challenges.
A new report from the Federation of International Banks in Ireland (FIBI) found that employment among its member firms rose by 20% over the last 12 months, bringing the total workforce across the sector to approximately 17,700 people.
FIBI represents more than 30 international banking and investment companies operating in Ireland and said the expansion reflects a significant rise in financial services activity across the country.
According to Stephen Ring, Head of Capital Markets and International Banking at the Banking and Payments Federation Ireland, the increase in jobs is closely linked to growing business volumes.
Ring said Ireland has become the world’s seventh-largest exporter of financial services and has recorded a €120 billion increase in cross-border financial services activity. He noted that employment growth is largely keeping pace with the rising scale of business being conducted from Ireland.
The report also highlighted the sector’s broader contribution to the economy. FIBI members spent €6.5 billion directly within the Irish economy during 2024, supporting a range of industries and services.
Confidence among firms remains strong despite a complex international economic environment. Two-thirds of companies surveyed said they expect to increase their business activity further during the year ahead, while 44% indicated plans to recruit additional staff in the coming months.
Technology continues to play an increasingly important role in banking operations. The survey found that 88% of international banks in Ireland are now using artificial intelligence technologies, up from 71% in 2025.
Ring said AI is being adopted across a wide range of functions, including front-office operations, risk management, compliance and administrative services. He stressed that the technology is being used to improve efficiency rather than replace employees.
Industry leaders maintain that human oversight remains essential as AI tools become more deeply embedded in financial services. Ring said firms are implementing appropriate controls and risk-management measures to ensure accountability remains with employees.
The report comes as Ireland marks ten years since the United Kingdom voted to leave the European Union. While Brexit created challenges for the Irish economy, it also generated opportunities for Ireland’s financial services sector.
Many international financial institutions expanded or relocated operations within the European Union following Britain’s departure, with Ireland emerging as a key destination.
Ring said employment in the industry has increased by more than 50% compared with pre-Brexit levels, while the balance sheet size of the country’s most significant banks has grown by more than 240%.
At the same time, he warned that Brexit has contributed to greater regulatory divergence between the UK and the EU. He said this highlights the importance of ongoing efforts by Ireland and European policymakers to simplify regulations and strengthen the competitiveness of the financial services sector in the years ahead.
