IL&P predicts 30% lending rise
"Gross new lending for the group (Ireland and Britain) is expected to be just short of E6 billion for the full year, representing growth of over 30%. New residential mortgage lending in Ireland is expected to grow by circa 30% for the year while new mortgage lending in Britain by Capital Home Loans will exceed the strong growth performance of the first half. Consumer finance lending enjoyed a strong second half with new lending growth of circa 11% expected for the full year," the company said.
The company said that after the sharp fall in life sales in the first half principally reflecting the impact of the Government-sponsored Special Savings Incentive Account (SSIA) products in the prior year life sales growth resumed strongly in the second half of 2003.
