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Deposits of Irish Companies at Credit Institutions Decline

Deposits by Irish private sector companies at credit institutions in Ireland fell an annual 17 percent to 81.1 billion euro at the end of the June, the Irish central bank said in a report today.

The net outflow of deposits from Irish private sector enterprises was 2.4 billion in the second quarter, following a drop of 3.6 billion euros in the first quarter.

Credit to all non-financial non-property related companies dropped 2 percent in the second quarter from the previous three months and dropped 7.5 percent from the year-ago year, the Dublin-based central bank said.

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