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Access to Credit for SMEs (Industrial Report) - Ireland - June 2010

In response to increasing demand for data concerning the dynamic economy and growth markets of Northern Ireland and The Republic of Ireland, Mintel has developed a series of reports covering a wide variety of sectors within both of these dynamic regions. Each one provides detailed coverage of key drivers as well as providing the very latest volume and value data. Also included are assessments of emerging trends, the activities of existing market players, brand ownership details, supply structures, future scenarios and statistical forecasts.

The Irish Series is segmented in the same manner as Mintel's UK reports, namely Finance, Leisure, Market, Retail and 'Specials'. This provides unparalleled coverage and will be a must for all companies who are either already active in this region, or will be looking to enter these distinct marketplaces in the future.

This report looks at the market for SME banking, defined as SME credit and SME deposits. It charts how SME credit and deposits have changed during the recession and how the types of credit taken out has also changed. It also profiles the major banks.

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Table of contents

  1. Issues in the Market

      • Key themes
        • Definition
          • Abbreviations
          • Future Opportunities

            • Regaining lost trust
              • White Knights on the horizon?
              • Market in Brief

                • Market growth comes to an end
                  • Figure 1: The market* for SME banking in IoI, 2003-09
                • Is the need for short-term finance being met?
                  • Figure 2: The Structure (% of amounts outstanding) of SME credit market by type of credit, 2007-09
                • Self finance increases in importance
                  • Government support vital
                  • Market Background: The Banking Industry

                    • Key points
                      • Little competition
                          • Figure 3: The main business banks in IoI, April 2010
                        • A common business model
                          • Figure 4: The regulation and oversight of SME banking in NI, April 2010
                        • Consolidation among RoI regulation bodies
                          • Figure 5: The regulation and oversight of SME banking in RoI, April 2010
                        • What banks offer SMEs
                          • The Long Tail Effect
                            • SMEs associations
                            • Internal Market Environment

                              • Key points
                                • Access to finance a key problem for SMEs
                                  • Figure 6: The most pressing problems facing SMEs in Ireland and the UK, June-July 2009
                                • Most SMEs rely on external finance
                                  • Figure 7: The finance sources used by SMEs in the past six months, June-July 2009
                                • With short term funding becoming a growing issue
                                  • Figure 8: The average payment period (days) for monies owned to SMEs in IoI, Q1 2007-Q1 2010
                                • Half of SMEs turned down for credit
                                  • Figure 9: How has the willingness of banks to lend money changed in the past six months, UK and RoI, June-July 2009
                                • We were just following orders
                                  • Governments step in to help SMEs directly…
                                    • UK government streamlines its offer
                                      • Figure 10: UK/NI government initiatives to improve SME access to finance, 2008-10
                                    • Irish government put pressure on the banks
                                      • Figure 11: UK/NI government initiatives to improve SME access to finance, 2008-10
                                    • Government’s intervene to stabilise the banking industry
                                      • Deposit guarantees – designed to build confidence
                                        • Bank recapitalisation – designed to stop banks falling over
                                          • UK banking market sees massive recapatilisation
                                            • NAMA set up
                                              • Figure 12: The NAMA “Haircut” by Institution, 2010
                                            • UK Government sets up the Asset Protection Scheme
                                              • Bank nationalisations
                                                • Lending Targets in the UK
                                                  • Similar targets in RoI
                                                    • European Investment Bank also supports SMEs
                                                      • Prudential Capital Assessment Review Figures Published
                                                        • Increased lending targets in 2010
                                                          • Efforts to improve competition in the banking industry
                                                            • Micro businesses have better choices
                                                              • Cost of finance falls
                                                                • Figure 13: UK and RoI Interest rates, April 2008-February 2010
                                                            • Broader Market Environment

                                                              • Key points
                                                                • The crunch undermines banks capital…
                                                                  • A deep recession hits SMEs hard…
                                                                    • Figure 14: Outlook for GDP, unemployment and government spending in NI and RoI, 2008-10
                                                                  • Recession leads to turnover to decline
                                                                    • Figure 15: Turnover trends among SMEs in RoI and UK in the past six months, June-July 2009
                                                                  • Profits nosedive
                                                                    • Figure 16: Profit trends among SMEs in RoI and UK in the past six months, June-July 2009
                                                                  • Fixed investment takes a big hit
                                                                    • The recession drives down business borrowing
                                                                      • Figure 17: The value of loans outstanding granted to non-financial companies in the UK and RoI, Feb 2007-Feb 2010
                                                                    • SMEs keep tight rein on their debt
                                                                      • Figure 18: Debt to Asset Ratio trends among SMEs in RoI and UK, June-July 2009
                                                                    • Business failures in RoI on the rise
                                                                      • Figure 19: Summary of creditors’ voluntary liquidations, high court liquidations, receiverships and examinerships, RoI, 2008 Q1-2010 Q1
                                                                    • NI insolvencies also high
                                                                      • Figure 20: Company insolvencies (Compulsory liquidations and creditors voluntary liquidations) NI, 2002-09
                                                                    • Exchange rate helps SMEs in NI
                                                                      • Figure 21: The Monthly average spot exchange RATE, Euro into Sterling, Jan 2007-March 2010
                                                                  • Market Size and Overview

                                                                    • Key points
                                                                      • Data revision
                                                                        • RoI market stagnates while NI market continues to grow
                                                                          • Figure 22: The market* size for SME banking, IoI, RoI and NI, 2003-09
                                                                        • Demand for credit falls in RoI
                                                                          • NI SME market growing
                                                                            • Figure 23: Indexed trends of IoI SME banking market 2003-13
                                                                        • Segment Performance

                                                                          • Key points
                                                                            • Levels of credit fall in RoI, increase in NI
                                                                              • Figure 24: The SME credit* market, IoI, RoI and NI, 2003-09
                                                                            • Bank loans dominate the credit market
                                                                              • Figure 25: The Structure of SME credit market by type of credit, 2007-09
                                                                            • Short-term, unsecured credit becomes less popular with the banks
                                                                              • Figure 26: The structure of the credit market in RoI and NI (€m), 2007-09
                                                                            • Deposits continue to rise despite the recession
                                                                              • Figure 27: The level of SME bank deposits in IoI, 2003-09
                                                                              • Figure 28: Indexed trends of IoI SME deposit market 2003-13
                                                                          • Strengths and Weaknesses

                                                                            • Strengths
                                                                              • Weaknesses
                                                                              • Suppliers

                                                                                • Key points
                                                                                  • AIB plc/AIB Group
                                                                                    • Background
                                                                                      • Small business banking offer
                                                                                        • Business activities
                                                                                          • Figure 29: AIB Non-personal loans*, 2005-09
                                                                                        • Recent Developments: Government Assistance
                                                                                          • Figure 30: Criticised Loans of AIB Group, December 2009
                                                                                        • Future Focus
                                                                                          • Anglo Irish Bank Corporation Limited
                                                                                            • Background
                                                                                              • Small business banking offer
                                                                                                • Recent Developments: Government Assistance
                                                                                                  • Figure 31: Division lending balances of Anglo Irish banks, December 2009
                                                                                                • Future Focus
                                                                                                  • Bank of Ireland
                                                                                                    • Background
                                                                                                      • Small business banking offer
                                                                                                        • Small business activities
                                                                                                          • Recent Developments: Government Assistance
                                                                                                            • Figure 32: Bank of Ireland loans and advances to customers, 31st December 2009
                                                                                                          • Future Focus
                                                                                                            • Bank of Scotland (Ireland) Ltd
                                                                                                              • Background
                                                                                                                • Small business banking offer
                                                                                                                  • Recent Developments: Government Assistance
                                                                                                                    • Future Focus
                                                                                                                      • National Irish Bank Ltd
                                                                                                                        • Background
                                                                                                                          • Small business banking offer
                                                                                                                            • Recent Developments: Government Assistance
                                                                                                                              • Future Focus
                                                                                                                                • Ulster Bank Group
                                                                                                                                  • Background
                                                                                                                                    • Small business banking offer
                                                                                                                                      • Small business activities
                                                                                                                                        • Figure 33: The business related value of loans outstanding of Ulster bank, 2008-09
                                                                                                                                      • Recent Developments: Government Assistance
                                                                                                                                        • State Investment
                                                                                                                                          • Asset Protection Scheme
                                                                                                                                            • Figure 34: Ulster bank assets covered by the asset protection scheme, December 2009
                                                                                                                                          • Future Focus
                                                                                                                                            • Others
                                                                                                                                              • Barclays
                                                                                                                                                • HSBC
                                                                                                                                                  • RaboDirect.ie
                                                                                                                                                    • Santander
                                                                                                                                                    • Buyers

                                                                                                                                                      • Key points
                                                                                                                                                        • SMEs play a key role in the RoI economy
                                                                                                                                                          • Figure 35: Make up of roi businesses by enterprise size band and persons employed, 2008
                                                                                                                                                        • SMEs more vital to NI economy
                                                                                                                                                          • Figure 36: Make-up of NI businesses by enterprise size band, 2008-09
                                                                                                                                                        • SME numbers tending to rise before the crunch
                                                                                                                                                          • Figure 37: Trends in Small Business Numbers in Ni, 2005-09
                                                                                                                                                        • Recession hits SME numbers
                                                                                                                                                          • Figure 38: Change in the number of enterprises by employment size in NI, 2008-09
                                                                                                                                                      • Appendix

                                                                                                                                                        • Market size tables
                                                                                                                                                          • Figure 39: The SME credit and deposit market in RoI, 2003-09
                                                                                                                                                          • Figure 40: The SME credit and deposit market in NI, 2003-09
                                                                                                                                                        • Miscellaneous tables
                                                                                                                                                          • Figure 41: House completions, by year, RoI 2001-08
                                                                                                                                                          • Figure 42: Company insolvencies, by industry sector for three months ended 31 March 2007-09
                                                                                                                                                          • Figure 43: Company insolvencies, by industry sector, RoI, 2004-08

                                                                                                                                                      Companies Covered

                                                                                                                                                      To learn more about the companies covered in this report please contact us.

                                                                                                                                                      Access to Credit for SMEs (Industrial Report) - Ireland - June 2010

                                                                                                                                                      £827.00 (Excl.Tax)