One of the world’s biggest and well known banks Barclays, have confirmed that they have been given approval to move €190bn worth of assets to its Irish branch.
According to BBC News, the major move which has been in the works since 2017 comes as growing uncertainty surrounding a no deal Brexit.
The move will see the bank transfer 15% of their overall assets and 5,000 clients to its Irish branch.
It will also mean that the bank can transfer its ownership of its branches in Paris, Milan and Frankfurt to the Barclays Bank Ireland.
Barclays say they were granted the move by a High Court in London following a review of their case and say the move must come as they cannot wait any longer due to the uncertainty surrounding Brexit.
The transfer of assets will now mean Barclays will double its workforce in Dublin to 300 employees.