The BBA is the voice of the banking industry for all banks who operate within the uk
June figures for the main high street banks
23/07/2009
There were modest increases in gross and net mortgage lending as a result of more new home loans being approved in recent months.
Personal deposit inflows rose sharply in June but consumer credit was again subdued. Lending to other financial companies rose, while lending to non-financial companies remained weak.
| seasonally adjusted data | mortgage lending | consumer credit | personal deposits |
|---|---|---|---|
| June net change | + £2.6 bn | − £0.1 bn | + £3.2 bn |
| (previous month) | + £2.4 bn | - £0.1 bn | +£0.3 bn |
| previous six month average | + £3.1 bn | - £0.1 bn | + £0.8 bn |
| annual growth | + 5.1 %* | + 0.1 % | +2.2 % |
| amounts outstanding nsa | £602.0 bn* | £95.2 bn | £580.4 bn |
* Following a change in the reporting of covered bonds in April, associated mortgage assets held in special purpose subsidiaries are included in mortgage lending outstanding and the annual growth allows for this change.
BBA statistics director, David Dooks, said of the latest data:
“Numbers of new home loans approved by the high street banks are recovering from the very low level last November and so far this year, gross mortgage lending has topped £50bn. After repayments and redemptions, the banks’ net rise in mortgage lending of £18bn in the first six months is in sharp contrast to lending by the rest of the market, which is still contracting. People are showing little appetite for unsecured borrowing and are generally keeping more money in their accounts.
“Borrowing by non-financial companies continues to be weak, either because funds raised on capital markets are replacing bank borrowing or because companies are seeking to withstand the recession by reducing their debt".
For further information, please contact:
Brian Capon, Assistant Director, Media (020 7216 8810 brian.capon@bba.org.uk )
David Dooks, Statistics Director (020 7216 8837 david.dooks@bba.org.uk )
Notes to Editors:
1. The BBA is the leading UK banking and financial services trade association and represents its members, from 50 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.
2. The main high street banking groups (MBBG) account for some two-thirds of all UK mortgage lending outstanding, provide about half of all consumer credit and, within that, some 60% of all new card credit. They include the seven largest retail lenders in the UK: Abbey, (inc Alliance & Leicester and Bradford & Bingley deposits), Barclays, Bradford & Bingley lending, HSBC Bank, Lloyds Banking Group, Northern Rock and Royal Bank of Scotland.
3. Following a change in the reporting of covered bonds from April 2009, the mortgage assets, held within such special purpose vehicles, have been added back into their parent banks' reported mortgage lending. These movements have been adjusted out of flows.
4. 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 July 2009.
Click here for the David Dooks comment in MP3 format.
Related Links
June 2009 Monthly Stats Release (PDF)
historical_time_series (MS Excel)
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