Satisfaction in financial services differs widely between two groups of the Republic's exporters, according to an export industry representative's study released yesterday.
The Dublin-based Irish Exporters Association 2006 Survey and International Finance Review reported that 88 per cent of manufacturing exporters said they were happy with their bank, while only 18 per cent of service exporters said the same.
The association cited financial services' misunderstanding of service exporters' circumstances as a possible explanation.
"Companies in the services sector tend to have less of the traditional assets with which to secure bank loans or procure forward contracts to hedge against foreign currency exposure," association chief executive John Whelan said. He added that the State's service export sector, the fastest-growing in the world, accounted for 34 per cent of the Republic's total exports.
About 1,400 exporters took part in the mid-year 62-question survey, according to the association. To see the entire survey, visit www.irishexporters.ie.
