€120k SBCI review contract won by EY
The National Treasury Management Agency (NTMA) has appointed EY to carry out an external review of its Strategic Banking Corporation of Ireland (SBCI) arm.
The NTMA estimates that the value of the contract is €120,000 and expects the work to be carried out over an eight-week period.
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The SBCI started lending in 2015 and after four and a half years in operation, it has committed €1.5 billion in lending and risk-sharing facilities. These have enabled lending of in excess of €1 billion to over 26,000 small and medium-sized enterprises (SMEs).
The tender states that as the 4th anniversary of the SBCI has now passed, "it is considered timely and opportune to engage a third-party to undertake a review of the SBCI".
An NTMA spokesman said yesterday that the review's purpose is to inform the SBCI's future strategy for funding and product development in a rapidly-changing market.