In December 2015, the Central Bank of Ireland published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium Sized Enterprises) Regulations 2013 (the SME Regulations). The SME Regulations replace the previous Code of Conduct of Business Lending to Small and Medium Enterprises and aims to strengthen protections for SMEs, while also facilitating their access to credit.
While Danske Bank has discontinued Business lending in Ireland to focus its business towards corporate and institutional clients, we are committed to ensuring compliance with the SME Regulations where applicable. To help you to understand the SME Regulations as it applies to our business lending we have produced an information booklet - Lending to Small and Medium-Sized Enterprises Information Booklet
. A printed version of the booklet can be obtained by writing to Danske Bank at Danske Bank, 3 Harbourmaster Place, Dublin 1.
The regulations have a number of objectives to which Danske Bank subscribes:
- to facilitate access to credit for sustainable and productive business propositions
- to promote fairness and transparency in the treatment of SMEs
- to ensure that when dealing with financial difficulties cases the aim is to assist borrowers to meet their obligations, or otherwise deal with the situation in an orderly and appropriate manner.
The SME Regulations extend the scope of enterprises to whom the protections will be available. Details of the enterprises to whom the protections apply are detailed in the Information Booklet.
We encourage you to read the Information Booklet