24% decline in gross new lending to Irish SMEs in 2021, Central Bank says

New data released by the Irish financial regulator indicated that gross new lending to SMEs experienced its sharpest decline in years during the Covid-19 pandemic

18th June, 2021
24% decline in gross new lending to Irish SMEs in 2021, Central Bank says
Annual repayments by SMEs stood at €4.5 billion, the lowest annual repayment level seen since the series began, which the Central Bank attributed to payment breaks agreed on loans during the pandemic. Picture: iStock Photo

Irish banks advanced €4.1 billion in gross new lending to SMEs in the year ending March 2021, a 24 per cent decline when compared to the same period in 2020, new figures released by the Central Bank show.

According to the Central Bank of Ireland, this is the largest year-on-year decline observed since the series began.

The outstanding stock of SME credit on the balance sheets of Irish banks increased by 1 per cent over Q1 2021 to...

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