Irish banks unable to help export businesses

Irish banks are ill-equipped to deal with companies touting new business and exporting abroad and are facing stiff competition from foreign lenders, Enterprise Ireland has admitted.

The State agency also said that it had helped create just six net jobs in 2011, but that there were optimistic signs that employers were beginning to hire workers again — the agency helped create 3,338 jobs last year.

The Oireachtas Public Accounts Committee (PAC) voiced concern over an admission by Enterprise Ireland’s head of investment that Irish banks were not up to the job of working with exporters.