Deposits by Irish private sector companies at credit institutions in Ireland fell in the year to the end of June, the Central Bank said in a report today.

The figures showed an annual decline of 17 per cent to €81.1 billion as deposits continued to flow out of Irish lenders.

The net outflow of deposits from Irish private sector enterprises was €2.4 billion in the second quarter, following a drop of €3.6 billion in the first quarter.

Credit to all non-financial non-property related companies dropped 2 per cent in the second quarter from the previous three months and dropped 7.5 per cent from the year-ago year.

Bloomberg