Bank of Ireland launches Polish business banking

Bank of Ireland today announced the launch of a new business banking proposition for Polish customers.

The initiative offers a range of dedicated banking services aimed at the Polish community.

"Latest projections show that the foreign national population could grow to 19% by 2020," said Damian Young, head of small business at Bank of Ireland Business Banking.

"We have recognised the changing needs of our customer base and this is the first in a range of SME initiatives due to be launched to foreign nationals by Bank of Ireland".

According to the latest Census, foreign nationals now account for 10% of the total Irish population with more than 200,000 coming from Poland alone.

In terms of entrepreneurial activity, it is estimated that up to 6-10% of new businesses are now established by non-Irish owners every year.

A recent study carried out by Lifestyle Consumer Research found that 17% of the foreign nationals surveyed planned to start their own business in Ireland during the next 3-5 years.