US banking giant Citi said it plans to create 300 new jobs in Ireland this year.

The bank employs 2,500 people in Ireland currently.

It has been in the country for over 55 years and was one of the first foreign banks to open an office in Dublin.

Several of Citi's global businesses operate here including Corporate Banking and Private Banking, Treasury and Trade Solutions, Markets, and Securities Services.

Cecilia Ronan, Citi Country Head Ireland, said that financial services has changed over the last ten years and more change is on the horizon as the pace of digitisation increases.

"Many of these new roles reflect this changing reality where skills like risk, software engineering, data analytics, cloud and cyber are of increasing importance to the growth and soundness of our business.

"We already employ 700 people in technology roles in Dublin and this is now set to increase," she said.

The bank recently announced the sale of its building at North Wall Quay and plans to purchase a modern and sustainable building in Dublin, reaffirming its long-term commitment to Ireland.

"We have flourished here because of the talent pool, the open economy and integrated ecosystem, and the access to the EU and I am excited to see that continue into the future," Ms Ronan said.

Minister for Finance Paschal Donohoe said that Citi was announcing its new jobs at a time in Ireland when employment in the international financial services sector is at the highest level it has ever been at, boosted by Ireland's highly educated and skilled workforce.

"Citi has a long history in Ireland, consistently evolving to keep pace with the rapid changes in the financial services sector and I congratulate them today on this important announcement," the Minister added.

Martin Shanahan, CEO of IDA Ireland, said that Citi's considerable footprint and its growth across multiple and diverse business functions in Dublin, greatly adds to Ireland’s reputation as a global centre for Financial Services.