Central Bank approval not needed for Russian Bank’s Dublin move

Central Bank approval not needed for Russian Bank’s Dublin move

A huge Russian bank that plans to shift some of its London-based business to Ireland is not required as yet to seek approval from the Central Bank.

As revealed by this newspaper earlier in January, VTB has merged Irish and British entities to allow it offer services to clients after Brexit. But it does not yet need Central Bank authorisation, in a move that will further throw the spotlight on Ireland’s shadow banking sector.

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