With Brexit on the horizon, UK challenger bank Starling is setting up an Irish subsidiary that will let it move into European markets, beginning with France and Germany.
The previously announced subsidiary will protect Starling's passporting rights, enabling it to operate across the EU, even in the event of a no-deal Brexit.
In a blog, Starling chief Anne Boden says the bank is targeting expansion in Ireland before moving on to the French and German markets.
Boden is also seeking to reassure UK customers worried about the "uncertainty" caused by Brexit, revealing "we're putting contingency plans in place to ensure that normal service to customers is not interrupted".
Starling is hoping for a big 2019, aiming to hit one million customers and launch a host of new products and services, including Euro accounts for UK residents, credit cards and expanded lending options.
Concludes Boden: "I’m glad I didn’t listen to those who told me in 2014, 'Nobody just starts a new bank, it can’t be done'. Well we did and the success of these past five years shows that it can."
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