Last year wasn’t a great year, nor was the year before, but there’s €150 billion in savings currently deposited in the Irish banks,” he said. “Car sales are ahead about 20 per cent on last year. Mr Hanlon said that despite rising inflation and cost-of-living pressures, he “wouldn’t see a significant downturn, if any downturn” in demand for car financing.
The company is expected to publish results next week.Įmploying almost 100 people, First Citizen Finance has a loan book that stands at just under €700 million, made up of more than 30,000 loans. The lender reported a profit of almost €3.5 million in 2021, with Mr Hanlon saying that 2022 was also a “very good” year. Mr Hanlon confirmed that the proceeds would be used to support the company’s lending programme for motor finance, which comprises the largest share of its business, along with other product lines.
