The BBA is the voice of the banking industry for all banks who operate within the uk
February figures for the main high street banks
24/03/2009
The banks' mortgage lending trend was stronger in February, with a net rise of £3.9 bn, while finance for non-financial companies rose by £1.1bn.
Personal deposits fell for the second successive month (partly reversing the £8bn increase over the final months of last year) and there was a small net repayment of consumer credit.
| seasonally adjusted data | mortgage lending | consumer credit | personal deposits |
|---|---|---|---|
| February net change | + £3.9 bn | - £0.2 bn | - £0.1 bn |
| (previous month) | + £3.4 bn | + £0.1 bn | - £2.0 bn |
| previous six month average | + £3.3 bn | + £0.1 bn | + £1.2 bn |
| annual growth | + 9.8 % | + 1.4 % | + 3.1 % |
| amounts outstanding nsa | £499.6 bn | £96.3 bn | £569.5 bn |
BBA statistics director, David Dooks, said of the latest data:
“Most new mortgage lending is being done by the high street banks but demand is, of course, being moderated by the impacts of the recession. Remortgaging activity has slowed in recent months, while higher numbers of loans approved for house purchase simply reflect the banks’ greater market share. In the wider consumer market, unsecured credit is very subdued and individuals’ deposits are also weak, as people respond to the current interest rate climate.
Within company financing, consumer-facing sectors were the only significant borrowers in February.”
The full press release can be downloaded from the PDF link below.
For further information, please contact:
Brian Capon (020 7216 8810 brian.capon@bba.org.uk )
David Dooks (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 eight largest retail lenders in the UK: Abbey, Alliance & Leicester, Barclays, Bradford & Bingley, HSBC Bank, Lloyds Banking Group, 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 30 March 2009
Related Links
February 2009 Monthly Stats Release (PDF)
historical_time_series (MS Excel)
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