Bloomberg News

Irish Banks Start Trend of Deposit Growth, Finance Official Says

October 12, 2011

Oct. 12 (Bloomberg) -- Irish banks’ reliance on central bank funding will be lower at the end of the year than it was at the start, according to John Moran, head of bank restructuring at the finance ministry.

Banks “are now starting a trend” of deposit growth, following a “catastrophic fall-off’ in deposits before lenders were recapitalized, Moran said in a speech in Dublin today. He said banks are also pressing ahead with deleveraging.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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