HSBC has announced it is to establish a corporate banking practice in Ireland which will be headed up by Alan Duffy, a former head of lending with ING Bank in Dublin.
HSBC said the new unit will concentrate on "strengthening existing relationships with target companies" across the country.
Making the announcement Charles Gregory, CEO, HSBC Group in Ireland, said: "Ireland's status as one of the world's leading trading nations offers tremendous scope for HSBC to assist Irish companies pursuing growth in international markets."
Earlier this year HSBC opened a €2 million back-office operation in Dublin's Sandyford which employes 170 staff and provides fund administration services for HSBC clients around Europe.
HSBC began operations in Ireland in 1979 and is based in Dublin.