Barclays' EU base after Brexit looks like it will be located in Dublin

Lynsey Barber
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Snapshot of Dublin
Barclays bank has leased new offices in Dublin (Source: Getty)

Dublin has been chosen by Barclays as the location for its European base after Brexit, according to a fresh report.

The high street bank has agreed terms to rent a bigger office in the Irish capital, the Telegraph reports, having also considered Frankfurt.

Read more: Japanese banks to shift London resources to Frankfurt after Brexit

It was previously understood that the bank was eyeing Ireland and the creation of 150 jobs in the city as it makes plans for continued access to the European market after the UK leaves the European Union.

An earlier report in the Irish Times this week said Barclays has agreed a deal to rent plush new offices at One Molesworth Street. A new chief executive of its business in Ireland, Kevin Wall, was named last week.

Read more: Japanese lending giant picks Frankfurt for new EU base

Top Barclays boss Jes Staley has stressed the importance of London remaining the "financial lungs" of Europe after Brexit.

Several banks have decided on new EU hubs to continue doing business after Brexit, some shifting jobs but others approaching it as more of a technical requirement.

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