Irish households continuing to pay back debt, figures show

Deposit growth declined last month as economic activity resumed

Bank lending to households totalled €135 million in the month, the lowest annual figure recorded since mid-2017

Bank lending to households totalled €135 million in the month, the lowest annual figure recorded since mid-2017

 

Irish households continue to pay back debt, according to new figures from the Central Bank.

The data shows Irish deposit growth declined last month as economic activity picked up.

Consumer lending rose €29 million in the month while on an annual basis, repayments exceeded new lending by €535 million.

Household deposits recorded a net inflow of €248 million in August, the Central Bank said.

Bank lending to households totalled €135 million in the month, the lowest annual figure recorded since mid-2017.

Loans for house purchase fell by €97 million for the month and the total was at €803 million on an annual basis.

Overnight deposits, which include current accounts, recorded an increase of €371 million in August and grew by €13.7 billion, or 15.5 per cent year-on-year.