Bank attitudes to SMEs under fire

Banks which fail to be customer-focused, and which fail to apply creativity and banking skill are devastating the owners of small- and medium-size enterprise when refusing loans, according to the head of the Credit Review Office.

In the latest quarterly review of the Credit Review Office, John Trethowan is scathing in his criticism of the attitude adopted by some banks in their response to loan applications from the SME sector.

“Some of the appeals to the Credit Review Office, however, fall short of being customer-driven responses, with more effort, lending skill, and customer focus required to find workable solutions to challenging situations,” he said.