...Tesco Bank and Nationwide UK (Ireland) are clear Brexit passporting casualties. One side effect of Brexit is less banking competition for Irish customers. There could be further casualties, Investec and Leeds Building Society (Ireland) have limited time to sort out their post Brexit Irish set up.
Tesco Bank and Nationwide UK (Ireland) are clear Brexit passporting casualties. One side effect of Brexit is less banking competition for Irish customers. There could be further casualties, Investec and Leeds Building Society (Ireland) have limited time to sort out their post Brexit Irish set up.
I think Investec will stick around (although at the moment, I think they are a branch of their UK office so will clearly need to make alternative arrangements), but can't see why Leeds might. Very sad to see competition reducing and probably deserves a discussion thread of it's own.
I'd have thought Tesco's Irish credit card business offers an opportunity for the likes of KBC or Avantcard to increase their market share (assuming it's for sale).
....Investec as an entity will stick around, their small deposit wing is a much bigger question mark.
Tesco credit card exiting. Not unexpected.
https://www.irishtimes.com/business...rish-credit-card-portfolio-1.3463124?mode=amp
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