The SBCI’s strategy is grounded in its mission to ‘deliver effective financial supports to Irish SMEs and in time other sectors that address failures in the Irish credit market, while driving competition and innovation and ensuring the efficient use of available EU resources’, which in turn is informed by its functions under the Strategic Banking Corporation of Ireland Act 2014.

In order to achieve this mission, the SBCI has set a vision ‘to be a strong promotional financial institution that provides effective financial support for Irish SMEs and promotes the economic development of the State’. This reflects the belief that the SBCI has a vital role to play in restoring an effective and sustainable market for SME financing in Ireland and a wider role in the long term as a conduit for State and European financing supports.

During the reporting period the SBCI focused on securing its initial tranche of funding from multilateral bodies and State resources as well as putting in place its first on-lending facilities, initially through tier 1 banks but also through non-bank lending institutions. It also focused on brand awareness and marketing so that SMEs were aware of, and would apply for SME loans.

Building on this initial work, the SBCI has set the following strategic objectives for 2016 and 2017:

Vision: To be a strong promotional financial institution providing effective financial support for Irish SMEs and promotes the economic development of the State.