Dublin has managed to join the ranks of cities recognised as “global leaders” alongside London, New York and Paris in the latest edition of the Global Financial Centres Index.

However the capital dropped again in the ranking of international financial centres and is now behind post-Brexit business rivals Frankfurt, Paris and Luxembourg.

Dublin has fallen one spot to 31st in the index, which ranks 96 financial centres.

This is far from the top 10 highs achieved in 2009; however it is a big improvement on 2014, when it languished in 70th place.

Dublin also joins other up-and-coming cities like Luxembourg, Shanghai and Beijing as one of the 2015 centres likely to become more significant.

When looking at just Western European financial centres, Dublin comes in eighth place ahead of Stockholm, Madrid and Edinburgh.

Since the Brexit referendum, there has been a lot of talk around companies deciding to exit London and the U.K. While much of that has yet to happen, Dublin has managed to attract JP Morgan and Barclays bank.

Cities including New Delhi, Astana, Baku and Tianjin were featured in the survey for the first time this year.