Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I have AIB's 2010-11 SME lending plan. The target was €3 billion. The first paragraph reads: "In recognition of this, AIB is already providing considerable lending support to SMEs in both new lending and in the re-scheduling and restructuring of their existing borrowings". It does not state that rescheduling and restructuring form part of new lending. Indeed, they are not a part of new lending. As written, they are separate.

The Central Bank has provided data on new lending for SMEs. The Central Bank states: "Gross new lending is defined in such a way as to exclude renegotiations or restructuring of existing loans". Are we playing with figures? The target of new lending was the additional money being given to SMEs, supposedly some €3 billion last year. All of the banks in the State just about surpassed that figure. AIB's target this year is €3.5 billion. The bank is playing with figures to make it look like its targets are being achieved when that is not the case. If someone's overdraft is restructured into a loan, the business person has not received new money or lending. He or she might be in a better position with a loan, but new money is not being delivered into the economy.