Value of personal loans drawn down last year surges to more than €2bn

New figures show the total number of personal loans issued in 2023 grew to 203,000, worth a combined value of more than €2bn

Volume of car loans was up by over 24%, with close to 58,000 loans issued during last year

The number of personal loans drawn down during 2023 surged by nearly 18% compared to the previous year, with the volume needed for car purchases up significantly.

New figures from the Banking and Payments Federation Ireland show the total number of personal loans issued in 2023 grew to 203,000, worth a combined value of more than €2bn. The total value is 23.3% higher than in 2022.