Irish bank to raise €10bn to expand €20bn banking operation

Irish banks will expand their banking operations in a bid to keep pace with the financial sector’s recovery.

The Irish banking sector is expected to grow by nearly 1.4% in the second quarter, as banks across the country cope with the impact of the financial crisis, which saw €8bn of savings wiped off the value of bank deposits in the first three months of the year.

Dublin-based TD Bank said in a statement on Tuesday that it would expand its existing bank branches in more than a dozen cities in the capital.

Its new branches will add nearly 1,500 new jobs to the Dublin-Dublin regional network, the bank said.

The bank also said it will create about 4,500 jobs and will be open for an additional 100 hours a week.

It said it was expanding its existing network of 50,000 credit card processing facilities in Dublin, in response to a demand from customers to use its cards.