Household deposits at a record high at the end of 2017

Household deposits at a record high at the end of 2017

Household deposits in banks here stood at a record high of €101 billion at the end of last year, according to figures from the Central Bank.

The level of household deposits passed €100 billion for the first time in 2017.

Lending for house purchase showed a net increase in 2017 for the first time since 2009.

New lending outpaced repayments by €45 million.

In the month of December, mortgage loans increased by €199 million.

Developments in loans and deposits mean that Irish households continued to be net funders of the Irish banking system.

Banks held €10.8 billion more in household deposits than loans at the end of December.

That contrasts to the situation in May 2008 when household loans exceeded deposits by €72.6 billion.

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