Strategic Banking Corporation of Ireland

The Strategic Banking Corporation of Ireland (SBCI) is a state-owned bank that was established in 2015, and in the wake of the Irish banking crisis of the late 2000s, to provide finance for small and medium sized businesses. At the time it was set up, many of Ireland's main banks were unable or unwilling to provide to businesses. The Strategic Banking Corporation of Ireland does not provide loans directly to businesses themselves, but instead provides finance to the main banks at low cost, with the idea that the money is then loaned on to business. As of 2016, the bank had provided €347m small business. Its chief executive is Nick Ashmore.[1][2]

References

  1. ↑ "Brexit decision makes it harder to attract new business lenders to Ireland - SBCI boss". The Irish Independent. Independent News and Media. 21 July 2016. Retrieved 21 July 2016.
  2. ↑ Burke-Kennedy, Eoin (27 February 2015). "'If the money isn't used the way we expect it to be used, we'll take it back'". The Irish Times. The Irish Times Trust. Retrieved 21 July 2016.
This article is issued from Wikipedia - version of the 7/21/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.