Finance house Elkstone says Irish business savers can get 4pc on deposit in challenge to banks

Central Bank figures show Irish-owned businesses had combined savings on deposit of around €166bn at the end of September

Donal O'Donovan

Irish investment house Elkstone says businesses and institutions here can get savings rates four times higher by putting funds on deposit with European versus domestic banks.

Figures from the Central Bank show Irish-owned businesses had combined savings on deposit of around €166bn at the end of September, more even than households, although it was down €8bn on the same time a year earlier.