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Mixed picture on SME lending in H1

Friday, September 05 12:32:37

The volume of lending to Ireland's SMEs rose in the first half of this year, according to latest figures from the Central Bank.

Gross new lending to non-financial, non-property related SMEs amounted to E1.1 billion over the first six months of 2014. This was slightly above the E0.9 billion of new lending over the first half of 2013. Agriculture continues to comprise the largest share of gross new lending.

However, credit to SMEs registered a decline of 1.5pc during the second quarter, to stand at E22.6 billion. In annual terms there was a fall of 4.6pc which compares with a decline of 5.8pc over the year to end-Q2 2013.

Loans decreased by 1.9pc over the quarter, and by 5.2pc over the year to end-Q2 2014, bringing the stock of credit to E34 billion. An annual decline of 4.6pc was registered for end-Q2 2013.

Property-related lending to all enterprises was 3.9pc lower over the second quarter of 2014, following a decrease of 1.7pc during Q1. Property-related lending to SMEs fell by 4.3pc during Q2 2014.

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