IMF: Irish banks weather Covid crisis but 'pockets of vulnerabilities remain'

The IMF wants a number of stress tests to be continued to be applied to the Irish banking system

The IMF found that while Irish and international banks based here weathered the pandemic with strong reserves, that nonetheless "pockets of vulnerabilities remain" and further challenges lie ahead. 

The Irish banking system has emerged from the Covid-19 crisis in good shape, but it faces numerous challenges including from property valuations, climate change, and the battle to secure long-term profitability, according to an IMF report. 

The report is part of the fund's regular analysis of the banking system since the financial crash and assesses how well banks and insurers here would cope with certain economic stress shocks.