Revival for private sector deposits

Irish private sector deposits turned positive in August for the first time since Jun 2010, according to figures released by the Central Bank yesterday.

There was a year-on-year increase of €1.6bn in deposits in August, which is a 0.7% increase over the past 12 months.

Household deposits accounted for €268m of this total, while insurance and pension funds made up a further €1.2bn. Private sector deposits from non-residents increased by €712m over the month of August.