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2023 Irish Banking & Capital Markets Outlook

What lies ahead for Irish banks?

The resilience that Irish banking institutions displayed during the pandemic will be tested again by the looming clouds of recession, war, volatile markets and the cost of living crisis. How can Irish banks navigate these uncharted waters in the coming year - and beyond?

Our 2023 Irish Banking & Capital Markets Outlook outlines the key trends that Irish banks must track and manage over the course of 2023, including sustainability, people and culture, transformation, regulation, the economic environment, new challengers, cost, life post-Brexit (and COVID-19), and markets business.

Key takeaways from our 2023 Banking & Capital Markets Outlook:


The availability of real expertise and appropriate resourcing are creating challenges to the adoption of sustainability practices. The sooner banks can make this a core competency and integrate it fully into their operating models the sooner they can gain real competitive advantage.

People & Culture

Banks will need to comply with the new EU Digital Operational Resilience Act (DORA) at the same time as they are playing catch-up in terms of their technology infrastructure and digital strategies. The European Artificial Intelligence Act will also have profound implications for Irish banks as they continue to invest in digital transformation. In addition, the implementation of Basel 3.1 will make significant changes to the way firms calculate risk weighted assets.


Identifying the resource and skill sets of the bank of the future coupled with maintaining the appropriate culture despite new acquisitions and remote working should be key focus areas for the banks over the coming months.


Pressure to transform is likely to increase in 2023 as banks not only need to achieve new efficiencies in the face of increasing competition but must also adapt how they serve their customers and operate their businesses in future.

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