Credit Review Bill 2024: Committee and Remaining Stages
Seanad Éireann — 2026-01-27
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Robert Troy (FF), Longford-Westmeath

I thank all the Senators for their contributions to the discussion of this Bill as it proceeded through the House, in particular last week, and for their presence here this evening.
The work the Credit Review Office has done since it was established in 2010 has given valuable assistance to viable SME and farm businesses in obtaining bank credit. Placing the office on a firm statutory basis recognises that value and endorses the credit review service as a permanent feature of the SME credit landscape in Ireland.
The credit reviewer's recommendations have resulted so far in banks agreeing to make over €86 million in credit available to SMEs and farm businesses. Between the actual reviews conducted and the advice given directly via its helpline or more generally through its useful publication or advocacy work, the Credit Review Office has provided a valuable service to thousands of Irish SMEs. More importantly, it has contributed to an improved culture in the banking sector in the period since the financial crash. There is now an expectation that banks will treat their customers better and give due regard to the best interests of their customers, including SMEs. While the Bill is, in one sense, merely a technical exercise in providing a legal basis for the continuance of the status quo , it is also a declaration of the Government's expectation that borrowers are treated fairly and with high standards of professionalism.
The Bill also provides for an expanded role for the Credit Review Office service in the future should the evolution of the SME credit market justify that, underlying the Government's ongoing commitment to support the growth and development of the SME sector. The Department of Finance will continue to monitor developments in this area and, should further change be necessary, appropriate legislative provisions can be considered in the future. The existing Credit Review Office has been operating quite effectively on its current legal basis. It is timely to bring the Bill forward now due to the fact that the NAMA legislation is due to be repealed.
I thank the officials and Senators in the House for their co-operation this evening. The Bill places the Credit Review Office service on a firm statutory footing so that it can continue to provide a valuable service to SMEs across Ireland and I commend it to the House.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-01-27/debate/main
Retrieved: 2026-08-14T04:54:33+00:00
Sitting date: 2026-01-27