Nationwide gears up for Irish expansion

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Nationwide gears up for Irish expansion

Nationwide Building Society is preparing for action to offer savings products within the Republic of Ireland.

Subject to approval from the Financial Services Authority and the Irish Financial Services Regulatory Authority, the operation will start by offering savings products by phone, post and online.

Nationwide said in a press release that it was a "prudent strategic move" to enable it to expand the geography of its operations and funding opportunities.

It claimed already to have "one of the strongest balance sheets in UK financial services".

Nationwide added that it would make a further announcement before the actual launch, following approval from the two relevant authorities.

Recently, Denis O'Brien, chairman of mobile phone service provider Digicel, called for less "talking down" of the Irish economy, which he said created a "panic environment".

Writing in the Irish Times, he said all cabinet ministers should be involved in promoting Irish trade in agriculture, tourism and so on, and called for a 12-month pay freeze for the cabinet and senior civil servants "to show example".

ADNFCR-323-ID-18736039-ADNFCR

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