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Revolut abandoning plan to make Dublin a hub for its Western Europe market

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Financial technology company Revolut is reportedly pulling out of Ireland, having abandoned plans to run its western European business from Dublin.

Financial technology company Revolut has reportedly abandoned plans to run its western European business from a hub in Dublin.

READ MORE: Thousands of people searching how to 'delete Paypal' after 'insane' new policy announcementThe popular company has also reportedly missed a September deadline to file its annual return with the Companies Registration Office. A spokesperson said: “As was announced and widely reported at the time, in February 2022 Revolut decided to serve its Irish customers using its new European full banking licence, rather than via the Irish e-money licence which had just been approved by the Central Bank of Ireland. This meant we were able to offer customers in Ireland new credit products, including personal loans, as well as a bank account backed by a Deposit Guarantee scheme.

Nearly half a million new bank accounts have been opened with Ireland's main retail banks and credit unions this year, Buzz reports.

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