AIB gave a positive outlook for the Agri-Food sector at a customer seminar for farming customers in the Tullamore Court Hotel.
Over 100 farmers attended the event on Thursday, January 26 at which Bernard Doorley (Business & Technology Advisor, Teagasc), John Donoghue (IFAC Accountants, Tullamore) and Eamonn O’Reilly (AIB Agri Adviser, Tullamore ) spoke.
Bernard Doorley outlined the importance of financial planning and maximising efficiency while John Donoghue discussed the importance of Tax planning.
Eamonn O’Reilly, AIB Agri Adviser outlined that agriculture would remain a key component of AIB’s business. He discussed the current opportunities and challenges facing the farm sector including the CAP reform proposals and highlighted the key information which the bank look for in a funding proposal.
He stressed that preparation is key when meeting with the bank and encouraged farmers to shows their strengths and an understanding of their business.
These seminars are one part of AIB’s commitment under the SME Lending Plan to have a comprehensive communication and engagement programme to demonstrate AIB’s commitment and willingness to support and lend to viable businesses.
Mr O’Reilly added, “2011 was a strong year for almost all sectors in Irish Agriculture. The outlook continues to be positive in the medium-term however we are likely to continue to see strong volatility in both input and output prices at farm level.
AIB looks forward to partnering with our farming customers to maximise the opportunities and the potential of the farming sector.”