Thursday, February 28 12:50:12
Lending to Irish households for consumer spending and to buy homes as well as loans to firms all fell in January, latest Central Bank figures show.
Loans to Irish households decreased at a rate of 4pc in the year ending January 2013, following a decrease of 3.9pc in December 2012. Lending for house purchase was 1.8pc lower on an annual basis at end-January, while lending for consumption and other purposes decreased by 10pc over the same period.
In cash terms, this translates as a fall in lending to households of E816 million during the month of January, following a net monthly decrease of E372 million during December. The change during January was mainly driven by decreases of E405 million and E344 million in housing and consumption related loans respectively. Meanwhile, loans for non-housing and non-consumption purposes were E68 million lower over the month.
Lending to Irish resident non-financial corporations (NFCs or the business sector) declined by 3.3pc in the year ending January 2013, following a decrease of 3.6pc in December.
During January 2013 loans to NFCs fell by E214 million. The monthly net flow of loans to NFCs averaged minus E104 million in the three months ending January 2013, compared with an average of minus E184 million in the three-month period up to end-December 2012.
Irish resident private-sector deposits rose at an annual rate of 3.7pc in January 2013, following a 2.5pc increase in the year ending December 2012.
Deposits from households were 1.2pc higher on an annual basis at end-January 2013, while deposits from insurance corporations and pension funds (ICPFs) and OFIs increased by 8.2pc. Deposits from NFCs rose by 5.2pc over the same period.
There was a month-on-month increase of almost E1.4 billion in Irish resident private-sector deposits during January 2013, reflecting increases across all four of the depositor sectors. Household and NFC deposits increased by E33 million and E120 million, respectively, while deposits from OFIs and ICPFs increased by E400 million and E815 million, respectively.