Irish private-sector credit fell 9.3 per cent in the first quarter of 2010 from the same period last year, as banks increased provisions for bad debts.
Two-thirds of the fall was due to write-downs of existing credit arrangements and higher provisions for "bad and doubtful debts," the Central Bank said.
Total residential mortgages fell by about €1.2 billion, as lending for buy-to-let real estate and holiday homes declined.
