The BBA is the voice of the banking industry for all banks who operate within the uk
July figures for the main high street banks
25/08/2009
The July figures show increases in the number of mortgage approvals and the amount of new lending, though this was below seasonal expectations.
Offsetting repayments gave rise to a net mortgage lending figure which was the lowest since October 2000. Unsecured lending has continued to be weak and the trend in deposit levels appears to be improving.
| seasonally adjusted data | mortgage lending | consumer credit | personal deposits |
|---|---|---|---|
| July net change | + £1.6 bn | − £0.2 bn | + £2.5 bn |
| (previous month) | + £2.2 bn | - £0.1 bn | + £3.3 bn |
| previous six month average | + £2.9 bn | - | + £0.7 bn |
| annual growth | + 4.5 %* | - 0.3 % | + 2.8 % |
| amounts outstanding nsa | £606.2 bn* | £93.7 bn | £583.3 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.
Main high street banks' mortgage approvals
BBA statistics director, David Dooks, said of the latest data:
“The numbers of mortgages approved for house purchase each month by the high street banks have continued to recover from last November’s low point, but new lending is largely being offset by repayments, so that net rises remain relatively weak. Unsecured borrowing is subdued, with households focused on managing their personal finances and building up deposits.
“Lending to non-financial companies has contracted over the last year, as would be expected given both the recession and large corporates using the capital markets to raise funds, but amounts outstanding are only 3% lower than a year ago.”
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 1 September 2009.
Related Links
July 09 Monthly Stats Release (PDF)
historical_time_series (MS Excel)
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