THE Bank of Ireland opened the first retail banking branch in the International Financial Services Centre (IFSC) yesterday.

Mr Quinn, Minister for Finance, speaking at the opening, welcomed this "important addition to the infrastructure of the centre".

Mr Pat Molloy, group chief executive of Bank of Ireland, said he hoped the move would be followed quickly by a range of further infrastructural services such as shops and restaurants.

Mr Quinn said he was "fully committed" to the implementation of legislation to enhance the financial services sector.