Loans to consumers continue to decline

Loans to consumers in Ireland have continued to decline.

According to the latest Central Bank lending statistics bank loans have fallen again in the month of May compared to April.

Loans were 4.8% lower in May, compared to 4.6% in April.

Mortgage loans fell by 2.1% in May, compared to the same month one year earlier.

Loans for consumption purposes fell by €156million compared to April.

Corporate loans fell by €87million, compared to a sharp decline of €708million in the month previous.