Residential mortgage lending was up 9% compared with the same month last year, the lowest annual rate since mid-1987.
The increase in mortgage borrowing in August was €508m, just over half the figure for July. The Central Bank said that while August was usually a quiet month, this figure was 'exceptionally low'.
The annual rate of growth for all private credit in the economy slowed to a six-year low of 12.9% in August.
The Central Bank also said that new spending and repayments on credit cards were noticeably lower in August than July.
