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AIB last of Northern Ireland's four major lenders to join Government coronavirus loans scheme

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Chief executive Adrian Moynihan, head of AIB in Northern Ireland, said: 'These are extraordinary times that require extraordinary measures'

Chief executive Adrian Moynihan, head of AIB in Northern Ireland, said: 'These are extraordinary times that require extraordinary measures'

Chief executive Adrian Moynihan, head of AIB in Northern Ireland, said: 'These are extraordinary times that require extraordinary measures'

AIB in Northern Ireland has become the latest major lender to join the Government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

The lender said that in addition to joining the scheme, it had provided other support to customers including repayment holidays on loans and mortgages and additional working capital facilities.

In total, it had given support to over 2,000 business, mortgage and personal customers.

Chief executive Adrian Moynihan, head of AIB in Northern Ireland, said: "These are extraordinary times that require extraordinary measures."

He said that much of the support sought had been for payment holidays, adding that only one in five customers had been looking for extra funding.

Mr Moynihan added: "As we look forward we do expect the number of requests from customers for extra funding to increase and we are now delighted to be in a position to offer customers access to the Government-backed CBILS scheme where this is the most appropriate solution for them." AIB was approved for accreditation by the British Business Bank as a new lender for the CBILS. The bank was the last of the four major lenders in Northern Ireland - along with Ulster Bank, Bank of Ireland and Danske Bank - to join CBILS.

The process is believed to have been delayed because the British Business Bank had used the Enterprise Finance Guarantee Scheme (EFGS) for enlisting banks to CBILS. However, AIB was no longer part of the EFGS.

AIB said it had responded to 16,000 customer calls in the last four weeks.

Belfast Telegraph