independent

Sunday 20 April 2014

Bank of Ireland exceeds SME lending target of €3.5bn

Getty Images

BANK of Ireland says it will exceed its lending targets to small businesses this year after handing over more than €3.5bn to SMEs.

In a statement, the lender said the figure of more than €3.5bn includes a mixture of overdrafts, restructurings, and new lending.

Both Bank of Ireland and AIB are mandated to lend €3.5bn to SMEs this year. That figure will go up to €4bn in 2013.

The firm’s director of business banking Mark Cunningham said he was “pleased” to have met the threshold.

“We have seen particular increases in demand from customers in the healthcare, manufacturing and hospitality sectors, while agri lending has also remained strong. Increased demand for asset and commercial loan finance has also been a feature.

“Lending to Dublin businesses was up by 27pc compared to last year. With over 40pc of businesses located in the capital this indicates that confidence is slowly returning, as evidenced by the growth we have been seeing in credit demand from viable businesses in the second half of this year ,” he claimed.

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Top Stories

Most Read

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News