Saturday 16 December 2017

Deposits down ¤600m

DEPOSITS at banks covered by the Government guarantee fell by €600m in November.

Figures from the Department of Finance show a 0.4pc drop in deposits during the month to €154.1bn.

It is the second-highest level of monthly withdrawals from Irish banks since the State-funded recapitalisation was completed in August 2011.

The department said the outflow of funds during November was due mostly to "retail movements", meaning withdrawals by consumers as opposed to corporate depositors. In a statement, the department said it was "encouraging that ... deposit volumes have remained stable in the second half of the year".

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