Central Bank tells lenders they must support struggling SMEs

Gabriel Makhlouf, the governor of the Central Bank, said lenders were expected to ‘play their part’ in managing the ‘fallout’ from the pandemic

20th June, 2021
Central Bank tells lenders they must support struggling SMEs
New data released by the Central Bank of Ireland showed the income of small and medium-sized enterprises who paused repayments declined twice as severely as that of peers who continued paying off their debts. Picture: Bloomberg

Irish lenders have been put on notice that failure to support SMEs as they emerge from the pandemic will not be tolerated as new research revealed severe revenue losses among firms availing of payment breaks.

New data released by the Central Bank of Ireland showed the income of small and medium-sized enterprises whose repayments were paused declined twice as severely as that of their peers who could continue paying off their debts.

The same cohort...

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