Strategic Banking Corporation of Ireland Explained

The Strategic Banking Corporation of Ireland (SBCI) is a unique financial institution that plays a crucial role in supporting Irish businesses. It was established in 2014.

The SBCI is a state-owned company that operates independently of the government. This allows it to make decisions and take risks that might not be possible within a traditional government agency.

The SBCI's main goal is to provide financing to Irish businesses, particularly those in the small and medium-sized enterprise (SME) sector. This is done through a variety of funding programs and facilities.

The SBCI has a strong focus on supporting rural businesses and those in disadvantaged areas.

The Strategic Banking Corporation of Ireland (SBCI) is a state-owned Irish bank that provides financing to small and medium-sized enterprises (SMEs).

Its primary goal is to support the economic growth and development of Ireland by providing access to finance for SMEs.

SBCI was established in 2014 to address the lack of access to finance faced by SMEs in Ireland.

It is a unique institution that allows for the pooling of funds from various government agencies and financial institutions.

SBCI's financing products are designed to help SMEs grow and develop, with a focus on innovation, job creation, and rural development.

These products include loans, guarantees, and leasing, among others.

The Strategic Banking Corporation of Ireland (SBCI) has a straightforward process for getting funds to businesses. The funding is available to SMEs through both bank and non-bank specialist on-lenders.

The SBCI is working with non-bank financial institutions to expand the range of products available for Irish SMEs. This is a successful model for funding SMEs throughout Europe.

Funding is released by promotional financial institutions through frontline finance providers.

The SBCI funding model is a successful and effective way to fund SMEs throughout Ireland. The funding is available to SMEs through both bank and non-bank specialist on-lenders.

The SBCI partners with long-term funding providers to deliver lower cost funding to SMEs. This includes the European Investment Bank, Kreditanstalt für Wiederaufbau, Ireland Strategic Investment Fund, Council of Europe Development Bank, and the National Treasury Management Agency.

The SBCI works with non-bank financial institutions, such as leasing and invoice discounting providers, to expand the range of products available to Irish SMEs. This delivers choice and competition to the market.

The SBCI passes on the lower cost funding provided by its partners to SMEs in the form of a reduced, more competitive funding cost. This is a significant advantage for Irish businesses.

The Strategic Banking Corporation of Ireland (SBCI) is finally ready to launch. This new institution is being officially launched in Dublin today by Michael Noonan and Brendan Howlin, the Irish Ministers for Finance and Public Expenditure and Reform respectively.

KfW, a German promotional bank, has been a key partner in setting up the SBCI. They've been advising their Irish partners since November 2013 and have shared their expertise on SME financing in numerous workshops.

The SBCI is owned by the Irish state and its main task is to provide liquidity and finance investments made by Irish SMEs. This is achieved by handing out funds as loans to SME customers through regular banks.

KfW has also agreed to provide the SBCI with a global loan of EUR 150 million. This loan is guaranteed by the German Federal Government and is earmarked for the financing of investment loans granted to small and medium-sized enterprises in Ireland.

The SBCI's funds will be used to finance SMEs in Ireland, where demand for entrepreneur loans is rising sharply. This loan is a significant contribution to economic growth in Ireland and a testament to the country's efforts in promoting the SME sector.

The Strategic Banking Corporation of Ireland Act 2014 was enacted on an unspecified date, but it's up to date with all changes known to be in force as of February 14, 2025.

This Act is an administrative consolidation of the original legislation, prepared by the Law Reform Commission to keep the law under review and undertake revision and consolidation of statute law.

The Act considers all Acts up to and including the Financial Provisions (Covid-19) Act 2020, enacted on July 17, 2020, and all statutory instruments up to and including the Financial Provisions (Covid-19) Act 2020 (Commencement) Order 2020, made on July 20, 2020.

The Strategic Banking Corporation of Ireland was established by the Act to facilitate access to national and international funding sources for making credit available to enterprises and other persons in the State.

The Act allows the Minister for Finance to guarantee borrowings of and provide funding to the Strategic Banking Corporation of Ireland.

The Strategic Banking Corporation of Ireland's memorandum and articles of association were formed in accordance with the Act.

The Act sets out the functions of the Strategic Banking Corporation of Ireland, which include making credit available to enterprises and other persons in the State.

The Act provides for the funding of the Strategic Banking Corporation of Ireland, including its share capital and the maximum amount of State funding it can receive.

The Act also provides for procedures to ensure public accountability, but the details are not specified in the provided text.