Finance Ireland chief executive Billy Kane said motor business 'is flying', after issuing €249m of finance last year to leave that book at €475m., the State’s largest non-bank lender, has claimed mainstream banks are engaging in “predatory pricing” by using cheap deposits to keep down their mortgage rates and squeeze alternative lenders in the market.
Still, Finance Ireland’s overall loan portfolio — spanning commercial real estate, car finance, SME lending, and agri-finance — rose by 32 per cent in 2022, according to company executives, who spoke to The Irish Times as the group’s ultimate holding company filed financial accounts. The portfolio covers loans held both on- and off-balance sheet.
The accounts for Finance Ireland’s ultimate parent company, FICS Group Holdings, show the commercial real-estate business provided €209 million of new loans last year. This left it with a loan book of €500 million in December, mainly against multiple apartments, industrial and real-estate property and retail and hospitality outlets. Mr Kane said this portfolio “is in extremely good shape”, even if new lending opportunities have slowed this year.
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