6th April 2017

Northern Ireland banking – 4th Quarter 2016

Ian Jordan, Chair of the BBA’s Northern Ireland committee, said of the latest data:

“The partly seasonal, lower volume of SME loan applications in the second half of last year reflected reduced demand for finance as firms addressed higher running costs resulting from sterling’s depreciation.  Export activity may be expanding in some sectors, but inflationary pressures will feed through to prices, potentially reducing economic activity.”