Wider limit for credit appeals urged

John Trethowan has said his Credit Review Office will still have an important role to play for at least another couple of years; as an increased number of appeals regarding failed refinancing and working capital requests are expected.

The office was set up in 2010 to monitor credit flow — chiefly from AIB and Bank of Ireland — to SMEs during the economic downturn.

Speaking yesterday, at the publication of his eleventh quarterly review, Mr Trethowan reiterated his concerns over the small number of lenders supplying credit in the Irish market and said his office is already seeing a rise in working capital and refinancing related appeals.