AIB: Small firms fail to draw down €1bn

AIB bank has said small businesses have failed to drawn down almost a billion euro of the bank's working capital facilities.

The bank said it remains the largest lender to small and medium sized businesses with 41% of the market.

Despite posting pre-tax losses of more than €2bn for the first half of 2010, the bank said it loaned almost €1,000 a month to SMEs during that time.

Managing director Colm O'Doherty said they are still dealing with many companies in difficulties.