Lending to households down 4.5% in May - Central Bank

Friday 28 June 2013 16.19
Central Bank figures show decline in lending for mortgages in May
Central Bank figures show decline in lending for mortgages in May

New figures from the Central Bank show that loans to households fell by 4.5% in May on an annual basis.

The Central Bank said that lending for mortgages was 2.1% lower on a yearly, while lending for consumption and other purposes slumped by 11.5%.

Today's figures also showed that households' repayments of loans to credit institutions exceeded draw-downs by €507m in May. This followed a net monthly decrease of €631m in April.

The annual rate of change in Irish private-sector deposits remained positive in May. Private-sector deposits increased by 7.6% over the year after a 7.7% annual increase in April.

Deposits from households were down 0.3% on a year-on-year basis, while deposits from insurance corporations, pension funds and other financial intermediaries combined rose by 25.1%. Deposits from non-financial corporates were up 5.9% over the same time.