UK-based building society, Nationwide on Monday unveiled plans to launch an operation in the Republic of Ireland.
Nationwide revealed this week that it intends to set up an operation which will initially offer savings products by post, phone and online.
However, the planned expansion is subject to approval from the Financial Services Authority (FSA) and the Irish Financial Services Regulatory Authority (IFSRA).
In a statement, Nationwide explained that:
"This is a prudent strategic move by the Society that will enable Nationwide, the UK's second largest savings provider, to further diversify its geographical operations and funding opportunities in the Irish Republic. The Society already has one of the strongest balance sheets in UK financial services in terms of its construct and its quality."
"A further announcement will be made, once approval has been given by the FSA and the IFSRA, prior to the initial launch of the operation."
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