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Investing.com -- Goldman Sachs Group Inc (NYSE:GS). is in preliminary talks with regulators about launching its retail bank, Marcus, in Ireland, according to a report from Bloomberg, citing sources. The move could significantly alter the Irish banking market and provide Goldman Sachs with access to tens of billions of euros in deposits.
These discussions have occurred in recent months, with Ireland being one of the locations under consideration for expanding Marcus’ operations. Germany is another potential location for expansion, a plan that Goldman Sachs had originally intended to execute in 2019. No final decision has been made yet.
A representative for Goldman Sachs stated that the focus remains on the US and UK businesses, while the company explores options for future growth areas. The Central Bank of Ireland declined to comment on individual applications.
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