Bank lending to customers drops 4.6%

LENDING by the banks plunged in April while there was also a drop in consumer deposits.

Bank lending to consumers fell 4.6% in April with mortgage lending alone down 2%.

It was lending for other purchases that really plunged, falling by 13.4% in the month, according to statistics released by the Central Bank. The figures also showed that lending to businesses fell 2.2% annually in April.