AIB Home (IRE)   AIB Economics   AIB Home (GB) 

Monday 25th May 2015 
email to a colleague

printer version
Product Description Product Description

Product Description
Cash Management Cash Management

Cash Mgt Services
Public/Private Sectors
2013 Historic Rates 2013 Historic Rates

Historic Average
FX Rates 2013
Let us know let us know

send us your feedback
RateSaver RateSaver

online historic fx and
interest rates
fx3 fx3

custom fx rates
directly to your mobile
fxcentre pro fxcentre pro

confirm and view deals
& payments online
ISME: Lending reject figures no surprise
Wednesday, 22nd August 2012 12.28pm

Today's figures from the Central Bank showing Ireland credit rejection figures for SMEs is second only to Greece comes as no surprise and the Government should force the bailed out bank to make full disclosure, according to ISME.

The research from the central bank once more confirms what the Association has been stating for years, that access to bank finance is being denied to viable but vulnerable businesses, it said.

According to ISME Chief Executive, Mark Fielding, "While Irish banks have been recapitalised with enormous fiscal injections, the truth of the matter is the bailed-out banks are not fixed, rescued bankers continue to utter untruths, banking reform is delayed and banking policy is turning good business bad. These same Irish banks refuse to lend to viable small and medium enterprises".

"This present administration must stop their current love affair with the banks, demand changes in bank operations and insist that they partake in a positive way in the recovery. It may suit the administration to believe the fiction created by bankers' spin that the system is functioning; otherwise why sink billions of taxpayers' money into keeping them afloat. The reality is that banks are performing at a very limited capacity in ensuring the payments system and ATMs are functioning, however when it comes to assisting the SME sector to grow, the bailed-out banks are continuing to refuse SMEs access to finance, thereby hindering the economy."

"The Government, the owners, must take a more hands on approach while the system is broken, insist on opening credit lines, servicing SME customers and play their part in economic recovery. Otherwise business will stagnate, employment will reduce and the economy will suffer for a generation," Fielding stated.

More breaking news >
The above information has been taken from sources we believe to be reliable and trustworthy. However the accurateness and completeness thereof are not guaranteed and therefore should not be relied upon as such. AIB does not endorse or approve the content of any information from third party sites nor will it have any liability in connection with any third party site (including but not limited to liability arising out of any allegation that the content of or information on any third party site infringes any law or the rights of any person or entity)
  © Allied Irish Banks, p.l.c. 2003 AIB Customer Treasury Services is a registered business name of Allied Irish Banks, p.l.c.
Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Registered Office: Bankcentre, Ballsbridge, Dublin 4.
Registered in Ireland : Registered No. 024173.