Irish banking industry to get new financial service contract

FIBA has signed a multi-year contract with TD bank to offer new financial services to consumers in Ireland.

In the first phase, TD will offer its clients a range of new products and services.

The bank said the deal will see it offering a range from savings to mortgage insurance.

The bank said it will also be expanding its online presence and will open its first retail store in Dublin this autumn.

The Irish Financial Services Authority (IFSA) has given the contract to TD for a period of five years.

This will run until 2020.

IRELAND’S FINANCIAL SERVICES ACCOUNTING AND FINANCING ASSOCIATION (IFSCAF) will take over the responsibility of auditing the bank’s financial performance.

“In its current financial position, TD has the ability to meet its obligations under the Irish Banking Act and the European Union (EU) Stability Mechanism,” the IFSCAF said in a statement.

“However, due to the current economic and financial uncertainties, the IFSCA is providing financial oversight in order to ensure that the banking sector is operating in a sustainable way.”

Taoiseach Enda Kenny has been lobbying for a bank to be established in Ireland to provide more affordable and reliable financial services.

The Minister of Finance said in January that the government is considering the creation of a new Irish bank with a national scope and to provide services for consumers.

He said he hoped the new bank would have a similar approach to TD as it had to the UK’s Lloyds Banking Group.

“It’s going to be a national bank, and it will be a new bank with the same standards and the same level of oversight,” Mr Kenny said.

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