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Biggest growth in consumer lending in over 10 years; Central Bank

Biggest growth in consumer lending in over 10 years; Central Bank
New lending for car purchase in the year to July reached its highest level since the Central Bank started measuring the indicator in 2012.

According to the regulator’s figures, gross new lending for car purchase hit €2.1 billion in the twelve month period.

Arrangements other than personal contract plans accounted for much of the increase.

Overall consumer lending in the year to July registered its largest annual increase since since late 2008.

The Central Bank’s figures show that net consumer lending reached €737 million in the 12 months.

The regulator reported 2% annual growth in all bank loans to households in the period.

It amounted to a net increase in household lending of €1.8 billion.

New mortgage drawdowns continued to exceed repayments by €47 million in July.

In annual terms, on-balance sheet mortgage lending increased by €1.1 billion, or 1.5%.

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