Bank ‘is ahead of lending target’

AIB has said it is running 17% ahead of its €3.5bn SME lending target for 2012, having exceeded its €3bn target for last year.

The bank — which recently reiterated its forecast for a return to profitability by 2014 — said in its half-year lending review that a further eight businesses received AIB seed funding during the first six months of 2012 and the two main funds which it supports are on track to make 20 new investments for the year, as a whole.

The bank said the review proved it remains the largest provider of seed capital funding in Ireland.