Banks assure IFA credit availability for farmers is not a problem

FIVE bank groups have assured the Irish Farmers’ Association that credit availability is not a problem as regards farmer borrowers, subject to the normal qualification about repayment capacity.

The IFA said it had been given the assurance by the AIB, Bank of Ireland, Ulster Bank, ACC and NIB at meetings held to assess the credit situation for farmers and to review their repayment performance.

Despite the high-profile difficulties in the banking sector in Ireland and globally, IFA farm business committee chairman, James Kane, said the banks described the situation in relation to lending to farmers as “business as usual”, and referred to the good repayment record of farmers generally.