Bank’s SME approvals rise 52% to €5.6bn

AIB approved €5.6bn in credit to the SME sector in the year to the end of November, 52% more than in the first 11 months of 2013.

As further progress on the sale of the bank was reported over the weekend, AIB said yesterday that it has seen a “significant uplift” in the SME market during 2014, approving almost €600m worth of SME loans in November alone.

“Recent economic indicators point toward rising business and consumer confidence, leading to increases in domestic demand,” AIB said.