Cash on deposit in banks covered by the State guarantee in June rose by €0.6 billion (0.4 per cent) month-on-month to almost €153 billion, the Department of Finance said yesterday.

In a statement, the department described the increase as “a positive result in the context of significant uncertainty in Europe”.

Although the rate of increase of deposits slowed last month, cumulative growth in the first six months of the year was €5.8 billion.

Deposits have increased by €13 billion since the low point of €140 billion in June 2011.

The Covered Banks are AIB Group (including EBS Building Society), Bank of Ireland Group, permanent tsb and Irish Bank Resolution Corporation (formerly Anglo Irish Bank).