The Irish arm had 1,563 full-time equivalent employees at the end of December, compared to 912 a year earlier.
Despite the UK officially leaving the EU on March 31, banks are working to a final relocation deadline of December 31 which marks the end of the Brexit transition period and the cut-off point for the UK to strike a trade agreement or leave the EU without
Once the UK leaves the EU, Jersey's approach to external trade will need to continue to adapt, and that is why Jersey is building capacity and investing resources in this field.
Despite the underperformance of 2018 the underlying performance of UK banks in terms of their day to day business on a domestic level hasn’t been that bad, with decent profits in 2018, with the trend continuing into the first half of 2019.
"Some companies import products from the United Kingdom at no additional cost, but now they don't know how the cost of customs or tariffs will affect them," he said.