Household deposits fell in November along with home loans, but companies drew down more loans that they repaid, new data from the Central Bank showed.

The bank said the €653 million fall in deposits partially reversed a strong increase recorded the previous month, but was in line with seasonal trends established over more than a decade.

The monthly statistics indicated a €315 million fall in loans for home purchases, which accounts for the majority of household lending. Lending for consumption and other purposes rose by €33 million.