South Africa and UK-listed lender Investec has applied for a full banking licence in Ireland, seeking authorisation to roll out comprehensive banking activities across the European Union and strengthen its ability to serve corporate and high-net-worth clients in a bloc managing approximately €38tn in assets.

Bloomberg reported that Investec already operates in Dublin through its European unit, providing treasury risk solutions, derivatives, and investment services under Central Bank of Ireland regulation, having established its Irish presence through the acquisition of NCB Stockbrokers in 2012. The licence application seeks to significantly extend the scope of those operations.

The move reflects the continued reshaping of financial services operations across Europe in the years since Brexit, with Ireland having emerged as a preferred hub for international banks seeking EU market access due to its English-speaking workforce and established regulatory framework.

Investec Group Chief Executive Fani Titi said: "We have been in discussions with the regulator for quite some time. It takes a bit of time to go through these processes, but we do expect that in the immediate future, we will be successful, and we are quite excited about the opportunity that that opens for us in Ireland and the rest of Europe."

Titi confirmed that an Irish licence will allow the group to work more actively across Europe, and that approval is expected before the end of the current year.

Separately, Investec is also recruiting ahead of a planned launch of a UK corporate banking business in the second half of 2027, underlining the group's broader international growth ambitions as competition intensifies among banks and financial advisory firms targeting corporate and affluent client segments.

The application reinforces Ireland's standing as a post-Brexit gateway for international financial services groups seeking regulated EU access.

Read the full details on Investec's Irish banking licence application.