Lending to businesses grew in November for the first time since the pandemic started, according to new data from the Central Bank.
The volume of new loans non-financial companies crept into positive territory following a sharp bounce in economic growth in the third quarter, with large loans accounting for the bulk of lending.
However, interest rates charged to Irish businesses were still more than two times higher than the eurozone average, highlighting the challenges companies face in 2021 to recover from the coronavirus recession.
Total new loan agreements by businesses in Ireland were €1.2bn in November, an increase of 7pc in annual terms. It was a significant improvement on October, when credit contracted by 31pc compared to the same month in 2019.