Written answers

Tuesday, 14 May 2013

Department of Finance

International Financial Services Centre

Photo of Terence FlanaganTerence Flanagan (Dublin North East, Fine Gael)
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182. To ask the Minister for Finance the number of banks and businesses that have closed in the International Financial Services Centre over the past three years; the names of the banks; the reason they closed; and if he will make a statement on the matter. [22277/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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It is difficult to clearly demarcate which banks participate in international financial services activity based solely on location in the International Financial Services Centre. Fifteen banking licences were revoked by the Central Bank since 2010. These are set out below. All of the revocations were at the request of the banks. The rationale for the revocation is a commercial decision for each of banks involved. The seven banks marked with an asterisk had their head office address in the IFSC.

2010

- First Active plc. 31 March 2010

- EAA Bank Ireland plc.* 16 December 2010

- Postbank Ireland Limited 20 December 2010

- Bank of Scotland (Ireland ) Limited 31 December 2010

2011

DePfa-Bank Europe plc.* 02 February 2011

Pfizer International Bank Europe* 07 July 2011

Irish Nationwide Building Society 28 July 2011

ABN AMRO Retained Custodial Services (Ireland) Limited 29 July 2011

BNY Mellon International Bank Limited* 20 December 2011

2012

IBRC Mortgage Bank 25 July 2012

Commerzbank Europe (Ireland)* 26 September 2012

Zurich Bank* 14 December 2012

2013

Goldman Sachs Bank (Europe) plc. 18 January 2013

The Bank of New York Mellon (Ireland ) Limited* 01 February 2013

Irish Bank Resolution Corporation Limited 07 February 2013

I have no information on non bank licences in the IFSC.

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