How bailed-out banks could repay the taxpayer

MANY of your readers have expressed concern over the level of support proposed for Irish banks.

As one who works in financial services I think the banks should consider employing up to 500 business and finance graduates who would take up working positions in small businesses seeking loans from the bank.

Each graduate may only be required by a particular company for one day a week so they could take in five from Monday to Friday. With proper postgraduation training, they would be the eyes and ears of the bank and would report back on the progress being made. More importantly, they would be an early warning system for the lender, helping to identify a financial or business problem and they would be able to draw on a bank’s extensive experience to help prevent a small problem becoming a major one for a business.

For their part, banks would be more aware of their customers’ strengths and weaknesses and would be able to offer more informed advice and more appropriate services.

This would help safeguard bank loans, protect employment and allow the banks to repay the Irish people for the support being provided by NAMA.

Gerry Owens

Lislee Road

Maryborough

Douglas

Cork