The Irish Central Bank has released its latest money and banking statistics for May 2018 indicating that loans to households for consumption purposes grew by 1.2 per cent in the year to end-May.
Other highlights from the report include:

· Loans to households, adjusted for loan sales and securitisations, declined by 1.6 per cent in annual terms to end-May.

· Mortgage loans, which account for 83 per cent of total on-balance sheet loans, decreased by €49 million in May. In year-on-year terms, net mortgage lending rose by €295 million or 0.4 per cent, a marginal increase on the previous month.

· Non-housing loans decreased by 0.1 per cent or €16 million in annual terms to end-May. However, Lending for consumption purposes, the largest component of non-housing loans, grew by 1.2 per cent or €152 million annually.

· Deposits from households increased by €157 million in May. This was the sixth consecutive month of household deposit growth, the longest sequence of positive monthly growth recorded since 2008. Annually, household deposit lodgements were €3.6 billion higher than withdrawals, resulting in growth of 3.7 per cent. The €101 billion outstanding amount of household deposits was an all-time high.

· Developments in loans and deposits mean that Irish households continued to be net funders of the Irish banking system. Banks held €12.5 billion more in household deposits than loans at end-May, with the loan-to-deposit ratio standing at 0.88. This was a series low for this ratio.