Talk the talk

Rose McManus, marketing manager at Hibernian, talks to David Clerkin.

We know of Hibernian primarily as an insurer. Please tell us about your personal lending activities - what’s on offer, the rates charged and so on.

With a headline lending rate of 7.75%, the Hibernian personal loan is currently one of the most competitive loans on offer in the Irish market. Customers can borrow up to €35,000 to spend as they choose - whether it’s on a dream holiday or a new kitchen.

Repayment terms are optional - customers can borrow over periods between a minimum of one and a maximum of five years.

What’s so attractive about diversifying from the insurance business and branching out into personal loans?

Hibernian has a very loyal customer base.

Our aim is to provide a broad range of products to meet all our customer’s financial needs.

How big is your loan book? How quickly is it growing?

Our loan book is growing rapidly.

The distribution of personal loans through new outlets - including Hibernian branches nationwide - has made it particularly easy for people to take out a Hibernian personal loan.

Why did you cut rates recently? Was it due to poor take-up?

Hibernian’s aim is to be the most competitive lender in the open market and the bottom line is that if we can make a product cheaper for our customer then we will.

Did the rate cuts apply to existing customers or just new applicants?

The rate cuts apply just for new applicants.

How competitive have you found the personal loans business?

The personal finance market is becoming more competitive.

We put the increasing level of competition down to new market entrants like us.

Is it difficult to boost lending volumes without compromising on credit quality?

No, Hibernian would never compromise on credit quality to boost market share.

How are these loans distributed? Directly or through intermediaries?

Hibernian personal loans are available through our retail branches at 28 locations nationwide from Letterkenny to Cork, or alternatively by calling 1890 33 22 11 or checking out our website at www.hiberniandirect.ie

Why should customers borrow from you instead of from a bank?

Quite simply money talks - and our loan rates are better than those on offer from the banks.

Are your loan products limited to variable rate facilities, or can customers fix their lending rates with you?

Hibernian offers both fixed and variable-rate products.

Any plans to diversify into other financial services and if so, which ones?

Hibernian already offers a broad range of financial products other than insurance, this range includes mortgages, car loans, investment products, mortgage protection cover and pensions.