Dáil Éireann Debate, Wednesday - 2 December 2015
59. Deputy Pearse Doherty asked the Minister for Finance the number and names of lenders who have availed of funds from the Strategic Banking Corporation, and the value of Strategic Banking Corporation of Ireland funds distributed to each one of these in 2015 to date. [43100/15]
Amharc ar fhreagraThe Strategic Banking Corporation of Ireland (SBCI) was incorporated in September 2014 and since then the SBCI has made considerable progress in building relations with lending partners and in constructing the complex operational capability required to bring products to market. These include establishing operational capability with funders and lending partners, building internal systems and business processes and establishing a team to safely and effectively manage the funding provided on behalf of the State.
As the Deputy will be aware, the SBCI launched its first product programme on the 19 February 2015 and lending commenced on the 9 March 2015 through Bank of Ireland and Allied Irish Banks Plc. In recent weeks, agreements have been signed with two new on-lenders; Finance Ireland and Merrion Fleet Management. A total funding of €476m has been committed to the four on-lenders. The breakdown is as follows:
|
On-Lender |
Funding Committed |
|
Allied Irish Banks (AIB) |
€200 M |
|
Bank of Ireland (BOI) |
€200 M |
|
Finance Ireland |
€51 M |
|
Merrion Fleet Management |
€25 M
|
Approximately €110m has been lent to 3200 SMEs up to the end of September 2015.
