Central Bank of Ireland – Developments in Private Sector Credit
Private sector credit in Ireland shrank by 6% in the fourth quarter of last year, according to a note published Friday by the Central Bank and Financial Services Authority of Ireland.
However, more than two thirds of this decline was the result of "write-downs of existing credit arrangements and increased provisions for bad and doubtful debts," the central bank noted.
Lending to banks and other financial firms tailed off at the end of last year. The year-on-year growth of more than 20% in such
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