Tuesday, September 11 11:33:40
Lending to Ireland's small and medium sized businesses fell by E390 million or 1.4pc in the second quarter of this year compared to the first three months and was down by E1.2 billion or 4.6pc compared to the same time a year ago, latest Central Bank figures show today.
This follows an annual decline of 6.3pc in the year to the end of Q1 2012 and brings the total outstanding amount of lending to SMEs in these sectors at end-Q2 2012 to E26.6 billion.
Credit advanced to all non-financial, non-property related enterprises declined by E530 million over the quarter (1.3pc), and E1.9 billion over the year to end-Q2 2012 (4.6pc), bringing total credit outstanding to non-financial, non-property related enterprises to E39.2 billion. This follows annual declines of 7.1pc and 5.2pc at end-2011 and end-Q1 2012, respectively.
Credit advanced to property-related enterprises engaged in construction and real estate activities was 1.9pc lower over the year ending Q2 2012, following a quarterly decrease of E613 million in Q2. Lending to SMEs in these sectors had fallen by 1.6pc in the year ending Q2 2012, which included a decline on a quarterly basis of E237 million in Q2.
Deposits held by Irish resident private-sector enterprises in credit institutions in Ireland rose by E623 million (0.8pc) during Q2 2012. Non-financial enterprise deposits were E35.4 billion at end-Q2 2012, following a quarterly increase of E236 million (0.7pc). The annual rate of decline in deposits from these enterprises was 1.4pc in Q2 2012.