BNP Paribas is planning to expand its operations in Ireland as it celebrates 50 years in the Irish market. The bank, which currently generates over €300m in Irish revenues across its 20 legal entities, employs more than 550 people in Ireland. The CEO and country head for BNP Paribas in Ireland, Derek Kehoe, stated that the bank has undergone significant transformation in recent years, driven by new technologies, digitisation, expansion, and diversification. BNP Paribas has recently integrated its three offices in Dublin into one in Sandyford and has reduced its carbon footprint by moving to a gold standard LEED-certified site.
Kehoe emphasized the bank’s commitment to sustainable and sustained growth in Ireland, stating that the move to a more spacious and eco-friendly premises is a statement of intent. He also highlighted that Ireland is a recognized destination for inward investment, and the opportunities presented by Brexit continue to benefit the financial services sector. BNP Paribas plans to continue offering investment services to corporate and institutional clients following the UK’s departure from the EU. The bank offers a range of corporate and institutional banking products, as well as general insurance, reinsurance, and commercial real estate advisory services in Ireland.
Mary Buckley, executive director of IDA Ireland, praised BNP Paribas’ contribution to the financial services ecosystem in Ireland and congratulated the bank on its 50 years of success. BNP Paribas expects continued economic momentum in the eurozone in the short term, but forecasts slower growth in the second half of the year due to tighter monetary policy. Inflation remains volatile, and there is uncertainty surrounding its persistence, particularly in the services sector.
Overall, BNP Paribas’ plans to expand and recruit in Ireland demonstrate its commitment to the market and its confidence in its future growth potential. The move to a more environmentally friendly premises aligns with the bank’s sustainability goals, and it aims to continue offering investment services to clients in the post-Brexit landscape. With its extensive range of corporate and institutional banking products, BNP Paribas is well positioned to serve the needs of clients in Ireland and contribute to the country’s financial services sector.