Bernard Durkan (Kildare North, Fine Gael)
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65. To ask the Minister for Finance the extent to which his Department monitors credit needs throughout all aspects of the business sector without exception; if he is satisfied that these needs are being met fully in line with economic requirements; and if he will make a statement on the matter. [5174/15]

Bernard Durkan (Kildare North, Fine Gael)
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67. To ask the Minister for Finance if he will provide, on a monthly basis, the extent to which the borrowing needs of small and medium sized enterprises continue to be met in full by the financial institutions; and if he will make a statement on the matter. [5176/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 65 and 67 together.

As the Deputy is aware, my Department commissions biannual surveys to ascertain the demand for credit by SMEs. This survey series, currently being conducted by Red C on behalf of my Department, is the most comprehensive survey of SME credit demand in Ireland, covering 1,500 respondents and involving over 6,000 direct telephone calls to SMEs. SMEs of all sizes trading in all sectors, excluding property development and speculative activities, are included. The survey covers demand for credit from both bank and non-bank sources.

The most recent survey, covering the period April-September 2014, shows that 86% of SMEs had their credit applications approved by the banks. This is an increase of 16% on the same period in 2011. The survey also showed positive trends in terms of trading performance, profitability and employment. The results of this survey feed into the deliberations of the SME State Bodies Group and consequently assist in shaping the commitments contained in the "Finance for Growth" chapter of Action Plan for Jobs 2015.

As I have stated previously, since the beginning of 2014 the policy focus has shifted towards the collation and examination, on a monthly basis, of more granular data on the funding of the activities of SMEs from both AIB and Bank of Ireland, the wider banking sector and increasingly the non-bank funding sector. Having completed a process of deleveraging, both AIB and Bank of Ireland are now concentrating on growing their balance sheets. In this context, both banks recognise the need to increase business lending in the period up to 2016, particularly lending to the domestic market, and have put on record their commitment to the SME sector. Both banks have recently reported increased year on year sanctioning activity for lending to the SME sector.

My Department and the Credit Review Office monitor the data received monthly from AIB and Bank of Ireland on a regional and sectoral basis but this is commercially sensitive information and I am not in a position to release it.