merrion street

The head of the Credit Review Office, John Trethowan, today published the 5th quarterly report of the body.

Speaking on the report, Mr Trethowan said:

I do not propose to re-state my previous findings over the past year, or seek to be novel for the sake of it in this report. The Borrowing environment remains broadly the same, but with the observation that the situation on the supply of bank lending is stabilised and not deteriorating. My previous findings thus remain valid observations of the credit supply market in Ireland at this time. These findings are not unique to Ireland and are broadly mirrored in similar conditions in GB.

The Credit Review Office was established to conduct a review process of refused loans from banks involved with NAMA. It accepts applications from SMEs, sole traders and small and medium-sized farm enterprises that have had their application for credit refused or reduced or have had credit facilities withdrawn, and feel that the bank’s decision is unjustified. The Credit Review Office will, on application from the borrower, carry out an independent and impartial review of the bank’s decision.