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FeedNationwide UK creates 20 jobs with its first operation here
The world's biggest building society, Nationwide UK, has opened an operation in Dublin
The world's biggest building society, Nationwide UK, has opened an operation in Dublin offering three different savings products with interest rates of up to 3.2pc.
Nationwide UK said it had one of the strongest balance sheets in UK financial services, in terms of its construct and its quality, with assets of around £200bn.
Opening the building society's offices in the IFSC yesterday, Tanaiste Mary Coughlan said the arrival of Nationwide UK into the Irish market was a vote of confidence in the economy and highlighted the opportunities for prudent operators within the banking sector.
"I expect the appetite for safe and sound savings products at present will more than justify their decision to open for business here.
The minister said she was hopeful that the number of jobs they have created will increase significantly in the years ahead."
The new operation will create 20 jobs. The building society is to offer customers a range of savings products initially, but has not ruled out expanding into other areas of banking.
The building society's easy access savings account pays 2.75pc. There is a minimum deposit of €2,000, up to a maximum deposit of €2m.
A six-month fixed-rate account, with a minimum deposit of €3,000 pays an annual equivalent rate (AERY) of 3.02pc.
Early closure is allowed, but will result in a 90-day interest charge on the total balance.
Minimum
There is also a nine-month fixed-rate saver account with an AERY of 3.11pc. The minimum deposit is €3,000.
Carl Gandy, managing director Nationwide UK (Ireland), said:
"The Republic of Ireland has a strong savings market and our aim is to offer competitive interest rates and provide long-term good value to customers."
