Loans to households continued to fall in January as deposits rose on a year-on-year basis for the sixth month in a row, Central Bank figures show.

Loans to households fell €816m in January compared with a decline of €372m a month earlier, the Central Bank said.

But the rate of annual decline increased to 4% from 3.9% in December.

Private sector deposits increased 3.7% year-on-year, up from a 2.5% rise in December.