New figures from the Central Bank indicate household lending is continuing its post-crisis recovery.

Loans to households fell by 1.5% in the year to September, however, this was the lowest rate to decline since November 2009.

Mortgage loans, which account for 83% of total on-balance sheet loans, increased in net terms by €301m in September.

In year-on-year terms, net mortgage lending remained relatively stable, with the annual fall of €21m coming in at the lowest decline since the series turned negative in June 2010.

The Central Bank said non-housing loans increased by 3.3% in annual terms to end-September, marking eleven consecutive months of annual growth.

Drawdowns on loans for consumption exceeded repayments by €710m for the period.

With regard to depostis, household deposit lodgements were €3.6 billion higher than withdrawals in the year to September, representing growth of 3.7%.

Household deposits stood at €100.6 billion at the end of the month.