Banks Have No Funds That’s Why They Are Not Lending – Competition Authority

Isolde Goggin has an Oireachtas Committee on Jobs, Enterprise and Innovation yesterday that the banking sector found itself in such a fragile position that it sacrificed competition for financial security.

“I am not sure what the Competition Authority can do about the lack of loans to small businesses if the money isn’t there in the first place,” said explained Ms Goggin.

She also stated that the Competition Authority continued to put pressure on the Department of Finance to ensure that the two pillar banks acted as if there were four or five banks in the market and their product offerings were as competitive as possible.

Related posts:

1. Banks May Not Reach Lending Target – Credit Review Office
2. Credit Review Office Says Banks Are Meeting Targets
3. 91% Say Banks Making It More Difficult To Access Finance – ISME Survey
4. Credit From Banks Tightens Again – Central Bank
5. Ireland’s ‘Pillar’ Banks Failing No Lifting SMEs