The balance sheet assets of the financial corporation’s sector increased by 8.7% compared to 2025. In 2025, the financial assets of sector S.12 increased by €837.5bn, while its liabilities advanced by €851.4bn during the same period. The balance sheet expansion from 2015 to 2025 was driven primarily by activity in the non-Money Market Funds (S.124) sector. The Financial Sector in Ireland's National Accounts publication explores the financial subsectors in greater detail. The evolution of the financial assets of S.12 from 2015 to 2025 is shown in Figure 4.1.
| Monetary Financial Institutions (S.121+S.122+S.123) | Non-Money Market Investment Funds (S.124) | Other Financial Intermediaries (S.125+S.126+S.127) | Insurance Corporations & Pension Funds (S.128+S.129) | |
| 2015 | 1.195880940147 | 1.77427421227 | 1.3693551695297 | 0.434999301899995 |
| 2016 | 1.17468276207 | 1.919866906384 | 1.42651369512873 | 0.459874001067 |
| 2017 | 1.159361299241 | 2.200490070774 | 1.27132731639699 | 0.487318632862 |
| 2018 | 1.210467603712 | 2.297671089428 | 1.37200683582515 | 0.486756553377724 |
| 2019 | 1.360927918346 | 2.899803872569 | 1.38283686948307 | 0.546021569099 |
| 2020 | 1.507991507145 | 3.153762500459 | 1.49702207455295 | 0.581280319347 |
| 2021 | 1.607785387114 | 3.866833544648 | 1.87218124238206 | 0.63897228848 |
| 2022 | 1.744494021846 | 3.348870875261 | 1.94313493097027 | 0.582874612553 |
| 2023 | 1.758376525048 | 3.744410801083 | 2.05769465453915 | 0.617132001023 |
| 2024 | 1.968965809626 | 4.629397796562 | 2.30723211518403 | 0.705929492376 |
| 2025 | 2.035139610647 | 5.340866985 | 2.33499419314865 | 0.738034040063 |
Get the data: PxStat IFI03
The balance sheet of the Monetary Financial Institutions sector (S.121+S.122+S.123) contracted during the period 2009-2013, where its assets fell by €626.3bn and its liabilities by €666.4bn. This trend was reversed in 2014, as financial assets and liabilities grew over their 2013 values. In 2025, the assets increased by 3.4% with the liabilities also increasing by 4.3% over the 2024 values.
The balance sheet of the non-Money Market Investment Funds sector (S.124) expanded during 2025, with assets rising by 15.4% and liabilities by 14.0% compared to 2024. The increase in the value of total assets and liabilities has been significantly influenced by holding gains during this period. Figure 4.1 shows the change in contribution by S.124 to the overall size of the financial sector balance sheet. During the period 2009 to 2025, the financial assets of this sector have accumulated a growth of €4831.9bn – an increase of 1052%.
The year-on-year percentage change in total liabilities of the financial sector is illustrated in Figure 4.2. The years leading up to 2009 saw positive growth largely dominated by the expansion of the balance sheet of the banking sector related to the housing boom. In the ensuing period of 2009-2013 there has been a deleveraging effect in the banking sector which has been offset by significant expansion of the investment funds sector. The marked reverse in trend during the period 2015-2025 has been caused mainly by growth in the investment funds sector. Here, the data shows a year-on-year increase with the exception of the year 2022 where the year-on-year change of -3.61%. The year-on-year change in 2025 marked an increase of 8.97% compared to 2024.
| Year-on-Year Growth Rate | |
| 2015 | 8.09337111631463 |
| 2016 | 3.4226077430828 |
| 2017 | 2.86644670168667 |
| 2018 | 4.52707078129379 |
| 2019 | 15.8411885119849 |
| 2020 | 8.07961344009522 |
| 2021 | 19.0654118363997 |
| 2022 | -3.61252692673181 |
| 2023 | 6.5103027037172 |
| 2024 | 17.4255868634745 |
| 2025 | 8.97275074211889 |
Get the data: PxStat IFI03
The trends evidenced in Figure 4.2 are also present in the sector breakdown of Figure 4.3. The balance sheet expansion in 2025 was influenced by positive year-on-year percentage changes in investment funds, other financial intermediaries, and insurance corporations and pension funds.
| Monetary Financial Institutions (S.121+S.122+S.123) | Non-Money Market Investment Funds (S.124) | Other Financial Intermediaries (S.125+S.126+S.127) | Insurance Corporations & Pension Funds (S.128+S.129) | |
| 2015 | 1.180293222264 | 1.80718083482 | 1.34519362466924 | 0.415672210165995 |
| 2016 | 1.155722428621 | 1.956691735011 | 1.35874892765895 | 0.439693849437 |
| 2017 | 1.124609353711 | 2.220002191891 | 1.246282928714 | 0.460729563214 |
| 2018 | 1.198075379468 | 2.31107167994 | 1.31556937660011 | 0.455598197305724 |
| 2019 | 1.365892923043 | 2.888144822874 | 1.345716356308 | 0.517025126178 |
| 2020 | 1.518040688955 | 3.150886486079 | 1.392804990532 | 0.549259179476 |
| 2021 | 1.628888371282 | 3.835389295808 | 1.800471679371 | 0.606654724982 |
| 2022 | 1.761033743068 | 3.338545102731 | 1.92738763784626 | 0.560080996205 |
| 2023 | 1.746394242713 | 3.758441491847 | 1.97609815365326 | 0.60005334885 |
| 2024 | 1.939096804986 | 4.63991129339 | 2.235204162415 | 0.674934426693 |
| 2025 | 2.022493868926 | 5.291341437271 | 2.31758383182597 | 0.709165029283 |
Get the data: PxStat IFI03
This year's publication also includes data in the current and capital non-financial accounts for subsectors of the financial corporations. There are three groups of subsectors: monetary financial institutions (S.121+S.122+S.123), financial intermediaries and funds (S.124+S.125+S.126+S.127), and insurance corporations and pension funds (S.128+S.129).
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