Ulster Bank and KBC exits may hinder access to SME funding

Chartered Accountants Ireland urges Government to review why two big retail banks decided to quit the Irish market

Chartered Accountants Ireland indicated that the exit of both Ulster Bank and KBC is making it harder for SMEs to access funding. Photo: Sam Boal/Rolling News

Chartered Accountants Ireland have urged the Government to conduct a review into the reasons why KBC and Ulster Bank exited the retail banking market in Ireland.

The institute, which represents 30,000 members, indicated that the exit of these banks have caused headaches for already struggling SMEs which are coping with inflation and supply chain pressures.