We’re open for business, bank tells farmers planning on expansion

Bank of Ireland is advising all dairy farmers with sound expansion plans that it is interested in lending money.

Bank officials told farmers attending the ‘BoI Agri and Food Conference’ in Kilkenny yesterday that its general approval rate for loan applications was running at 80%, and that the agri-food sector was enjoying an even higher success rate.

“We are constantly driving the message that the bank is happy to extend credit to the agri-food sector,” said Sean Farrell, head of agriculture with Bank of Ireland Business Banking. “We have a very favourable outlook on farming, particularly the dairy sector post-2015.