Further drop in rate of loans to households last month
Published 31/03/2012 | 05:00
LOANS to Irish households continued to decline during February, the Central Bank said yesterday.
Lending fell 4pc from the same month last year and the rate of decline was slightly higher than the 3.9pc rate seen in January.
Lending for house purchases was 2.5pc lower while lending for consumption and other purposes declined by 8.4pc over the same period.
The annual rate of decline in Irish private-sector deposits was 6pc at the end of February, which was the slowest rate of decline since October 2010.
"The past two months has seen a shift of overnight household deposits into accounts with an agreed maturity," Goodbody's economist Dermot O'Leary said.