Increase in business maturity loans

Household loans may have declined last month, however the Irish Central Bank reported that business maturity loans saw an increase in the month of September.

Overall business lending was down 3% in the year ending September 2010, and there was seen a €463 million or 1.5 per cent decline in loans of up to one year maturity – which includes short terms facilities such as overdrafts.

Shorter length business maturity loans however increased on a month-to-month basis in May, June and July 2010. Business loans of up to one year maturity were 2.3% higher on an annual basis according the Central Bank statistics.