Ireland is set to lose out in the race to host the European Banking Authority and the European Medicines Agency after Brexit, according to reports from Bloomberg. 

Quoting a person familiar to the matter, Bloomberg said that Dublin is viewed as having little chance of winning either organisation, partly due to the country's lack of natural geographical allies. 

Frankfurt is viewed as one of the leading candidates for the EBA, while Amsterdam and Copenhagen are among the leading contenders for the EMA, the person said. 

Both the Netherlands and Denmark are able to exploit local alliances, with the Dutch drawing support from the neighbouring Benelux countries and the Danes from the Nordic region.  

The potential loss highlights a wider issue for Ireland, with Brexit depriving Ireland of a traditional ally in Britain within the EU in areas like tax policy. 

Failure to win either agency would also hurt the Government's effort to offset the impact of Brexit. 

With about 15% of Irish exports going to the UK, the country is the EU nation most exposed to Brexit. 

Some 19 cities, ranging from Stockholm to Bucharest, are seeking to lure the European Medicines Agency. 

Eight offers for the European Banking Authority came in, setting the stage for deliberations by EU governments in October and a final decision in November. 

The EMA, which evaluates applications for new drugs and oversees the safety of medicines, employs about 900 people.

It attracts 36,000 visitors a year to London from government, science and industry.  

The Sunday Times has reported that while Dublin won maximum points in a competition to host the EMA, so did six other cities. 

The EBA works to align banking rules in the EU and has fewer than 200 employees.  

The Sunday Times reported that Dublin could make the top three to host the EBA, though it faces competition from cities including Vienna.