Barclays has picked Dublin to ­become its post-Brexit European hub as banks step up plans to protect their access to the EU once the UK leaves.

The bank has agreed terms to rent bigger premises in the Irish capital as it looks to ensure it can continue to service EU clients.

Barclays had narrowed the search to Dublin and Frankfurt but has finally settled on Ireland. It already has about 120 staff in the country but it is now ­expected to add an extra 100 to 150 ­employees.

The move comes as other City firms press ahead with Brexit contingency plans. Many international banks have their European bases in London and are now looking at moving jobs to other EU cities.