Demand for credit rose in November, taking total debt across the state to €315 billion, figures reveal today.
The increase in private-sector credit to €6.4 billion is the second largest month-on-month change this year.
The monthly statistics from the Central Bank show that the adjusted annual growth rate of non-mortgage credit also remained strong in November, at 30.6 per cent.
Lending to non-financial corporates registered the largest monthly increase since March 2006, while lending to other financial companies and non-mortgage lending to households was somewhat weaker.
The annual rate of increase in credit-card indebtedness increased to 17.2 per cent in November, up from 16.4 per cent in October.
Figures also reveal that despite reports of slowing activity in the housing market, borrowing by Irish households for house purchase remained strong in November, with a month-on-month increase of €2.1 billion in adjusted residential mortgages, taking total residential mortgage borrowing to €121 billion.