The move by Bankinter is set to send shockwaves through the Irish banking system as it was thought that full-service banks would not enter this market due to its small size and difficulties repossessing homes when mortgage holders default.
It will likely be seen as a significant boost for competition here following a slew of overseas banking exits since the financial crash.
The lack of banking competition in this market has long been acknowledged by the Central Bank and the Competition and Consumer Protection Commission and by the Government.
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