Bank lending declines by €264m

Lending by banks to households continues to fall while deposits increase as the sector continues to deleverage.

Latest figures from the Central Bank show that Irish bank lending fell €264m or 3.6% in November compared to the same month in 2011. However, the falloff in lending activity is moderating. In October, bank lending was down €515m on the year earlier period.

Mortgage lending was down 1.6% over November while loans for personal consumption were down 9.1% in the same period.