Credit given to small and medium enterprises (SMEs)including agriculture is continuing to fall in annual and quarterly terms, according to the Central Bank.

In 2013, new lending advanced to SMEs amounted to €1.9bn, down slightly on 2012. Agriculture continues to comprise the largest share of gross new lending. The results come on the back of continued strong deposit growth (9.5%), which stood at €39.3bn at year end.

Lending to SMEs fell by 3.1% during the last quarter and by 6.2% over the year. This further adds to the decline of 5% for the year 2012.

Banks focus on returning to profitability - read more here.