H1 SME lending hits €2.5bn at Bank of Ireland
Bank of Ireland approved some €2.5bn in credit to SMEs in the first half of this year. That figure includes new and increased lending and does not include restructures and corporate lending.
The bank said it received a total of over 34,000 Business Banking credit applications in the period, an increase of 8pc year on year and an increase of 17pc on the 29,000 applications that were received in the final half of 2014. In addition, the rate of approvals remains constant, with approximately 88pc of applications receiving approval. The lack of credit to SMEs remains a major issue for the market, however.