BoI lending to SMEs up 18%

Bank of Ireland has provided €1.9bn in new lending to the SME sector over the first six months of the year — an 18% increase on the same period in 2012.

The bank says it is approving 84% of the 1,000 loan applications it receives every week.

“The provision of new and increased credit is a vital component of the bank’s strategy for this sector as we grow our revenues through providing products and services which SME businesses and their owners want and need.