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Danske Bank processing invoices quicker to help struggling clients during coronavirus pandemic

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Stephen Matchett, Danske deputy chief executive and chief financial officer

Stephen Matchett, Danske deputy chief executive and chief financial officer

Stephen Matchett, Danske deputy chief executive and chief financial officer

Danske Bank has announced support for businesses in its supply chain by processing invoice payments more quickly during the coronavirus crisis.

The bank said that such businesses will now receive payment within 15 business days, at least two weeks earlier than standard payment terms in a bid to help ease pressures on cashflow.

The new measure will stay in place as long as necessary to support suppliers affected by the current situation.

Stephen Matchett, Danske deputy chief executive and chief financial officer, said: "Every month we work with hundreds of suppliers and partners in Northern Ireland who provide key goods and services that directly or indirectly help us to deliver for our customers and society.

"These businesses range from sole traders right through to large companies and we know many will be experiencing pressures on their cashflow in these difficult times.

"In order to help them we are now tightening our payment deadlines so that these businesses receive payment more quickly.

"We are in an extraordinary situation that is impacting businesses, families and society. At Danske Bank we are committed to playing our part in helping our customers and suppliers face those challenges in any way we can."

Belfast Telegraph