Credit to households falls 3.4% in 2012

Deposits held by Irish households rose 1 per cent last year to €87 billion


Credit to households fell 3.4 per cent last year to €101.9 billion at the end of December, according to the Central Bank.

Total deposits held by Irish households in resident credit institutions increased 1 per cent over the year to €87 billion.

Loans outstanding to private households by resident credit-institutions, including securitised loans that have continued to be serviced, stood at €143.7 billion.

The outstanding amount of mortgage debt stood at €85 billion at the end of December 2012 and 50 per cent of outstanding loans for house purchases are on tracker mortgages.

Non-housing related lending accounted for €17 billion, or 17 per cent, of all on-balance sheet credit at resident credit institutions at the end of last year.