GALWAY SENATOR CALLS FOR NEW BANK FOR SME SECTOR

Date Published: 15-Nov-2012

A Galway Senator is calling for the creation of a new bank for the small and medium enterprise sector.

Labour Senator Lorraine Higgins claims that Irish banks don't play their part in stimulating the economy with a loan rejection rate second only to Greece in the Eurozone.

She says that Irish banks need to follow the lead of UK based Metro Bank, which targets more than half of all its lending to the SME sector and commercial enterprises.

Speaking to Galway Bay fm News, Senator Higgins says a new bank is needed to finance people's business plans.