Business

Ulster Bank lends £215m in bounce back loans - focus now on recovery

Mark Crimmins

ULSTER Bank has lent more than £215million in Bounce Back Loans (BBLS) to businesses in the north and says it is now firmly focused on supporting economic recovery.

The bank's regional head Mark Crimmins said the lending to more than 7,000 businesses has been part of a wider effort to help firms through the immediate period of the crisis.

This has included support under the Coronavirus Business Interruption Loan Scheme, capital repayment holidays, overdrafts and overdraft extensions.

“These and other bank and government interventions have been essential lifelines for businesses and the economy as a whole," he said.

“But now we need to look towards the next phases of the crisis, identify the opportunities presented, but also deal with the many structural challenges the crisis has left, including overall levels of corporate indebtedness.”

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Business