The BBA is the voice of the banking industry for all banks who operate within the uk
September figures for the main high street banks
23/10/2008
The number of approvals for house purchase remained low but those for remortgaging were slightly higher. Consumer credit was subdued, rising by just £0.1bn, and personal deposit growth was stable.
| seasonally adjusted data | mortgage lending | consumer credit | personal deposits | company finance |
|---|---|---|---|---|
| September net change | + £3.6 bn | + £0.1 bn | + £1.1 bn | + £21.8 bn |
| (previous month) | + £2.1 bn | + £0.4 bn | + £0.1 bn | + £9.2 bn |
| previous six month average | + £4.1 bn | + £0.2 bn | + £1.8 bn | + £13.7 bn |
| annual growth | + 10.7 % | + 3.0 % | + 4.1 % | + 26.4 % |
| amounts outstanding nsa | £535.1 bn | £109.3 bn | £568.2 bn | £797.2 bn |
BBA statistics director, David Dooks, said of the latest data:
"It was not surprising to see continued low levels of mortgage lending and approvals in September, ahead of the Government's banking support announcements. Compared to a year ago, the mortgage environment has changed significantly, with supply restricted as a consequence of the situation in financial markets and demand at a much reduced level. But in a mortgage market that is becoming more concentrated, the high street banks provide more than two-thirds of all new lending.
Pressure on household budgets, the slowing economy and fragile consumer confidence are suppressing consumer appetite for unsecured borrowing, but personal deposits across the high street banks held up."
The full press release can be downloaded from the PDF link below.
For further information, please contact:
Brian Mairs - Assistant Director, Media (020 7216 8873 brian.mairs@bba.org.uk )
David Dooks - Statistics Director (020 7216 8837 david.dooks@bba.org.uk )
Notes to Editors:
- The BBA is the leading UK banking and financial services trade association and represents its members, from 60 countries, on domestic and international issues. Our members provide the full range of banking and financial services, operate some 150 million personal accounts, contribute £50bn to the economy and together make up the world's largest international banking centre.
- The Major British Banking Groups (MBBG) account for some two-thirds of all UK mortgage lending outstanding, provide over half of all consumer credit and, within that, some 70% of all card credit. They include the nine largest retail lenders in the UK: Abbey, Alliance & Leicester, Barclays, Bradford & Bingley, HBOS, HSBC Bank, LloydsTSB, Northern Rock and Royal Bank of Scotland.
- Net changes in amounts outstanding are consistent with Table A4.3 of the Bank of England's Monetary & Financial Statistics and the comprehensive data for lending to individuals by all lenders due to be released by the Bank of England on 29 October 2008
Related Links
Stats231008 (PDF)
historical_time_series (MS Excel)
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