The positions are at the firm’s Cherrywood base.
Staff have already been recruited for 100 positions and recruitment is under way for the remaining 100.
The company also says a further 100 jobs will be created over the next three years.
Dell Financial Services was granted a banking licence in June.
Dell Bank International will provide finance to Dell’s corporate customers across Europe, including Ireland and the UK, Germany, Austria, Switzerland, Belgium, the Netherlands and Luxembourg.
Today’s announcement is part of a €400 million investment the company is making in its financial services in Europe.
The jobs being created in the new bank are full-time positions.
Aongus Hegarty, President, Dell EMEA said the development is a further example of the continued investment in the company’s Irish operations in Cork, Dublin and Limerick.
“We are delighted with the support received from the Government and the Central Bank which has enabled us to secure a full commercial banking licence.
“As a result, we plan to build out our financing business from here, facilitating our goal to bring a diverse range of financial solutions to our customers throughout Europe,” Mr Hegarty said.
Commenting on the jobs, IDA Ireland’s chief executive Barry O’Leary said that Dell is one of the country’s highest-profile clients at the agency.
“The decision to locate their European finance function here in Ireland is an endorsement of Ireland as a stable, well-regulated environment.
“The company’s choice of Ireland as a location for their finance business also reflects their confidence in finding skilled staff to suit their organisational needs over the coming years,” he said.
Meanwhile, 40 full-time positiions are being created in sales and marketing company Lites Group.
The sales positions will be based in Dublin, Louth, Cork and Clare.
Finally, Dublin-based animation company Brown Bag Films says its workforce will climb to 150 when it adds 30 staff after winning a contract with Disney films. RTE News