Central Bank says in 2009 credit ex-valuations effects dipped 3.2% for Irish non-financial corporations; Household credit dropped 1.5% and residential mortgages were 0.3% lower
Feb 1st, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Central Bank said today that credit to non-financial corporations (NFCs), excluding valuation effects, fell by 3.2 per cent over 2009, and has been contracting on an annual basis since July 2009. Household credit, excluding valuation effects, was 1.5 per cent lower in December 2009 compared with December 2008. Residential mortgage lending outstanding (including securitised mortgages) declined by €19 million during December. At year-end 2009, residential mortgages outstanding were 0.3 per cent lower than at year-end 2008.