Households are continuing to pay down debt, according to the Central Bank, with loan repayments outpacing new lending in November.
Loan repayments for households outpaced new draw downs by €335m last month, according to the regulator’s latest Money and Banking Statistics, compared to a decline of €520m in October.
Loans for home purchases fell by €156m during the month, while in the year to date repayments for such lending out-stripped draw downs by €2.2bn.
Lending to households has continued to fall on an annual basis, according to the Central Bank, down 3.8% in November.
Loans for home purchases, which make up the majority of lending, were down 2.9% year-on-year.
Meanwhile, non-financial corporations based in Ireland borrowed at a faster rate than they repaid debt last month to the tune of €139m.
Draw downs also exceeded repayments in October, with medium-term loans seeing the biggest increases.
Overall lending to non-financial corporations was down year-on-year, however, falling 6.4% by November.
Short-term loans saw the sharpest decline during that period, while there was a 5% fall in long-term lending.
