The Irish Banking Federation (IBF) believes that a number of recommendations in the fourth quarterly report of the Credit Review Office published today merit consideration.
These relate specifically to John Trethowan’s recommendation for Government to examine ways in which assistance can be given to SMEs to allow them to better establish their current and future viability; also his recommendation for research on SME credit supply and demand to be jointly commissioned by the relevant Government Departments, business and banking representative groups such that the results would command universal acceptance.
IBF would be happy to work further with other stakeholders in these important areas. IBF has previously formulated outline proposals regarding a form of ‘examinership light’ – a fast track process designed to recapitalise potentially viable SMEs and thereby protect employment; and IBF facilitated banks’ participation in the Government-commissioned Reviews of SME Lending independently produced by Mazars.
IBF also notes the Credit Review Office’s finding that the loan approval rates (in respect of the banks covered) stand at around 88% and remain in line with the findings of the three previous reports undertaken by Mazars.
Note: The Irish Banking Federation (IBF) is the leading representative body for the banking and financial services sector in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.