Attack on banks

17 September 1999

Attack on banks

RECENT increases in bank charges by the main lenders have prompted a strong protest from the Ulster Farmers Union.

Farmers in Northern Ireland have been hit by rises in activity charges ranging from 9 to 25%, says union president Will Taylor.

"We have found a remarkable similarity in increases by different banks, such as for processing cheques. But in the same week, one of these banks announced a half-year profit of £82m.

"Given the state of agriculture, this is totally unacceptable."

The union has written to banks asking them to advise farmers how to avoid the extra costs. The one reply received so far advised producers to stay in credit. "Hardly realistic," says Mr Taylor.

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