Strategic Banking Corporation of Ireland
The Strategic Banking Corporation of Ireland is a state-owned bank that was established in 2015, and in the wake of the Irish banking crisis of the late 2000s, to provide finance for small and medium sized businesses. At the time it was set up, many of Ireland's main banks were unable or unwilling to provide to businesses. The Strategic Banking Corporation of Ireland does not provide loans directly to businesses themselves, but instead provides finance to the main banks at low cost, with the idea that the money is then loaned on to business. As of 2016, the bank had provided €347m small business. Its chief executive is Nick Ashmore.
