Loans to domestic non-financial companies dropped 5.5% y/y in May, says the Central Bank of Ireland, but that’s better that the -6.2% seen in April. Total loans to NFC’s posted their first positive net flow in a year and a half.
Household loans were down 3.7% y/y with house purchase loans falling by €298m in May vs April.
Ireland are looking to improve their fortunes further as they exit the bail out program and while there’s still a long long road ahead a sign that credit is starting to flow once more should be welcome news.
