Coronavirus: Danske confirms support for businesses

Danske Bank has today confirmed a number of measures to support Northern Ireland businesses through the coronavirus crisis.

Kevin Kingston, Chief Executive, said:

“At Danske Bank we have established a number of dedicated teams who are actively monitoring and communicating with customers, colleagues, government, regulators and industry.

“Our senior management team has been meeting, and will continue to meet, every day to focus solely on our response to the ongoing challenges.

“Be assured that, as the biggest bank in Northern Ireland, we will be steadfast and resolute in our determination to support customers and the wider NI economy.”

Business customers concerned about cash flow and the impact of the coronavirus outbreak on their business are encouraged to contact their relationship manager or small business adviser as soon as possible.

Examples of support measures available, depending on circumstances, include:

  • Temporarily increased overdraft facilities
  • Deferral of facility repayments
  • Extending existing working capital facilities to support short term cash flow needs
  • Using overdrafts as a tool for introducing additional liquidity
  • Invoice Finance as a tool to provide additional working capital requirements
  • Financing assets through the use of Asset Finance agreements and rescheduling existing Asset Finance Agreements.

The UK Government recently announced the introduction of a Coronavirus Business Interruption Loan Scheme, which will temporarily replace the Enterprise Finance Guarantee (EFG). Danske Bank has confirmed it will work with the government to deliver this as quickly as possible.

Customers can find up to date information and support at danskebank.co.uk/coronavirus.

ENDS