The boy said he stole the money because he wanted to be like his grandmother and go shopping too, police reported on Tuesday evening. The boy also said he wanted to make his friends happy with the cash.
The boy told police that he had already known his granny's PIN number when he pilfered the cash.
He bought sweets and distributed some €240 to different neighbourhood children, whose parents reported the gifts to the police.
The boy's grandmother accompanied him to the police station where he apologized, officials said. He also tapped into his piggy bank to pay her back, using money she had given him the previous week for good marks in school.