Oireachtas Joint and Select Committees

Tuesday, 9 March 2021

Public Accounts Committee

Strategic Banking Corporation of Ireland: Financial Statements 2019

9:30 am

Photo of Jennifer Carroll MacNeillJennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

I thank the witnesses for joining us. I will focus on the feedback I am getting from businesses about the availability of SBCI funding during the Covid period. I am hearing clearly that SBCI is not the problem. SBCI is processing the applications diligently and being helpful but the difficulty is getting funding, particularly from the pillar banks. Where somebody approaches the pillar banks, even having been through the SBCI, it is not "flying" with the relationship manager. That significantly impedes businesses which need credit getting the credit that is available. It is suggested that some banks identify preferred accounts to give extra liquidity or finance to. We hear that enough to warrant me asking if the SBCI has any concerns of that sort, which I relay on behalf of businesses in my area.

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