Strategic Banking Corporation of Ireland
The Strategic Banking Corporation (SBCI) is a new company established in 2014 to avail of both national and international sources of funding for the purpose of making low-cost credit available to Irish SMEs. Credit will be provided through on-lending institutions who, in turn, will lend directly to SMEs.
Funding for the SBCI has been provided from KfW (the German State Development Bank), the European Investment Bank and the Ireland Strategic Investment Fund (a new fund to which the assets of the National Pensions Reserve Fund were transferred). The SBCI is currently building out its team and working with its first on-lending partners to put facilities and operational measures in place to supply lending products to the SME market from the first quarter of 2015.
The NTMA assigns staff and provides business and support services and systems to the SBCI. Responsibility for the discharge of the SBCI’s functions is a matter for the SBCI Board.
More information is available on the SBCI website.