Household loans fell 4.1 per cent in March

Central Bank figures show rise in deposits

Loans to households fell €50 million in March according to figures from the Central Bank.

Loans to households fell €50 million in March according to figures from the Central Bank.

 

Loans to Irish households fell 4.1 per cent in March while deposits rose year on year for the eighth month in a row, Central Bank figures showed today.

Loans to households fell €50 million in March compared with a decline of €634 million a month earlier, while the annual rate of decline fell to 4.1 percent from 4.2 per cent in February.

The change during March was mainly driven by a decrease of €121 million in loans for consumption purposes.

Meanwhile, housing and non-housing non-consumption related loans increased by €45 million and €26 million, respectively over the month.

Private sector deposits climbed by 9.8 per cent year-on-year, compared to a 2.9 per cent rise in January, with most of the increase due to transactions related to the liquidation of the Irish Bank Resolution Corporation, the central bank said.