Lending to core small and medium-sized enterprises (SME) sectors fell by 8 per cent over the year to the end of September, according to new data. Figures released yesterday by the Central Bank also showed that almost €4 billion in private-sector company deposits flowed out of banks in Ireland during the third quarter. The bank said most of this related to a fall in deposits from non-bank financial intermediaries.
The total amount of loans outstanding to non-financial, non-property SMEs from banks in Ireland was €26.2 billion at the end of September, following a decline of €296 million in the third quarter. This data comes after Monday’s Isme Quarterly Bank Watch Survey, which found that half of SME firms were refused bank credit in the last three months.
The Central Bank also said lending to SMEs increased in just two core sectors during the third quarter: information and communications, and the electricity, gas, steam and air conditioning supply sector.
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