Our Scans · (FS.1.09) Irish Financial Services · Weekly Summary

• With Eurozone growth figures for 2025 hovering between 0.2% and 0.5%, any increase in baseline tariff could result in recessionary pressures for Europe in the immediate future, with more exposed nations, like Ireland for instance, facing larger GDP shocks of up to 8%. Verdict
• Bank of Ireland warns consumers to be cautious of potential follow-up scams where fraudsters pose as banks or booking sites offering refunds. Flagship Media Group Lmited
• Ireland is expected to argue that it is the home to 500 global financial institutions, including 17 of the top 20 global banks, and that it has a linguistic, common law and dispute resolution advantage over other contenders. RTE
• The cloud-based platform will empower Bank of Ireland to efficiently manage its internal trade finance processes with agility and scalability, driving greater efficiency, transparency and customer responsiveness. FinExtra
• Wage inflation in Continental Europe and UK & Ireland is expected to normalise in 2025, although the UK is expected to be impacted by increased National Insurance and National Living Wage costs. This is Money
• New electricity interconnectors will be developed and rolled out so Ireland can be a net exporter of electricity to both Europe and the UK. Matheson
• Growth in Irish economy forecast by Central Bank, but core inflation will not peak until end of year. BordBia
• Bank of Ireland has moved to temper bonus expectations among staff, as falling interest rates, a potentially large UK car finance compensation bill, and trade risks from US president Donald Trump's return to the Oval Office in Washington cloud its earnings outlook. The Irish Times
• Eurozone GDP is forecast to grow by 1.2% year on year, with Ireland, Central and Eastern Europe, Spain and the Nordic region leading performance. Savills Impacts
• Looking into 2024, dividends - which have not been big features of the investment cases for Irish banks in recent years - will now begin to come to the fore. The Irish Times
• Under the Maritime Area Planning Act, Ireland will move forward with measures to enable increased international connectivity, allowing Ireland to develop routes directly to mainland Europe, with further investment in cable projects from North America to Ireland. Eolas Magazine
• Bank of Ireland is warning of a surge in investment fraud, describing it as the most concerning trend in evolving scam tactics. FinExtra
• If Government spending increases continue at the current pace without any new tax measures to counter balance it, ministers risk driving higher inflation, damaging Ireland's competitiveness and long-term prospects for growth in living standards, the Central Bank of Ireland (CBI) has warned. Irish Independent
• Central Bank of Ireland governor Gabriel Makhlouf said the European Central Bank would need to see overwhelming data to make a big interest-rate cut in December, even as he insisted he is chilled in the view that inflation will reach the organization's 2% target in 2025. The Irish Times
• Investment should bounce back this year and Bank of Ireland is forecasting small gains in both headline investment and modified investment in 2024, strengthening to 2% and 3.5% increases respectively in 2025. Bank of Ireland Group Website
• Central Bank of Ireland has outlined a new multi-year payments strategy amid concerns that Irish banks are failing to grasp opportunities presented by instant payments. JD Supra
• There is some uncertainty regarding the extent of oversight the Central Bank of Ireland might exercise over Revolut's mortgage lending operations. KPMG
• Central Bank may delay Revolut plans to offer mortgages from early 2025: Revolut's proposal to introduce mortgage services in Ireland by the early part of 2025 may face delays due to potential regulatory actions by the Central Bank of Ireland. KPMG
• Ireland has the lowest employment rate in Europe for people with disabilities - and to build a successful the next-generation healthcare system, we will all need to better address barriers of prejudice or accessibility, which limit career progression. Silicon Republic
• Authorities in Ireland, Luxembourg and the United Kingdom have used entity-based measures to address leverage-related risks in government bond and real estate markets. European Central Bank
• CurrencyFair, the Irish fintech, has been warned by the Central Bank of Ireland (CBI) that its payment services could be stopped for up to a year if several regulatory concerns are not resolved. Irish Independent
• Bank of Ireland has warned today that money-muling - allowing a bank account to be used to transfer stolen money for a fee - can lead to a criminal record and impact travel or employment prospects. RTE

Last updated: 24 June 2025