The head of the Credit Review Office has told the Oireachtas Jobs Committee that the office welcomes the improvement in the trading figures of the SMEs and farms which used their services.
John Trethowan told the Committee that profits have returned and businesses are now beginning to rebuild their capital - sometimes from a very low base.
The number of cases reviewed by the Credit Review Office remains low, the Committee heard.
However the number of cases being overturned by the banks in their own internal appeals process has increased by 26%, and an increasing number of applicants are withdrawing from the Credit Review Office process to successfully renegotiate with the bank.
The Committee was also told the nature of cases being reviewed had changed considerably. Since its inception in 2010, average size of credit facility being reviewed has increased from €86,000 to €341,000.
In 2015, almost 30% of cases reviewed involved refinance of exiting banks or final restructuring by pillar banks.
