Thursday October 1, 2020

Bank lending to building sector down 77 per cent in past eight years

International capital has largely replaced domestic bank funding in sector as a whole: Regulator does not collect data on developers’ reliance on foreign credit, said Donohoe

28th July, 2019

The amount of credit provided to the construction sector by Irish banks has plummeted by more than 77 per cent over the past eight years, according to stark new figures.

Since 2011, the level of credit advanced to developers and Irish construction firms has fallen by 77.2 per cent from more than €3 billion to €683 million in 2018.

Similarly, credit provided by Irish banks to the real estate and land development sectors has nosedived by 76.9 per cent...

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