Monday 23 January 2017

Maeve Dineen: Picking a winner is hard but we're on to a loser if banks won't lend

Maeve Dineen

Published 05/03/2012 | 05:00

THEY claim to be "open for business" and tell us they have met their lending targets, but the governor of the Central Bank last week confirmed what every Irish business person already knows: the banks are simply not lending.

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And Patrick Honohan went even further by saying that credit conditions for Irish small and medium enterprises (SMEs) are worse than any other place in Europe, adding that "the lack of bank credit is likely to be a more serious drag on the recovery than it might otherwise be".

So just who are the banks trying to fool by persistently telling us they are lending? All we want is the truth but, once again, Irish banks stand accused of mistreating their customers.

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