herald

Tuesday 17 October 2017

Household lending rises

MORE THAN €309m was borrowed by householders for new mortgages in August, driving the amount of household lending up for the first time this year.

The Central Bank revealed that the drawdown of loans for buying houses was higher than repayments on mortgages during the month. But, net lending to businesses dropped by more than €200m in the month, which outlines that credit to businesses remains at subdued levels.

Loan repayments in the business sector, excluding financial companies, were €386m greater than the drawdowns made during the month. The main domestic banks and building societies borrowed a net €2.1bn from the Central Bank in August.

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