DZ BankAG closed its subsidiary DZ BANK Ireland Plc on March 31, a move thathas led to 20 layoffs, The Irish Timesreported April 11.

The supervisory board of the German parent companyreportedly decided to close the Dublin-based subsidiary in 2015, whichaccording to a DZ spokesperson, is part of the shifting focus of the lender toits domestic market along with local banks and clients.