The BBA is the voice of the banking industry for all banks who operate within the uk
October figures for the main high street banks
24/11/2009
New mortgage lending and house purchase approvals increased slightly as mortgage lending continued to grow from the low levels at the end of 2008. In contrast, consumer credit continued to be weak and lending to non-financial corporates fell.
Main high street banks' mortgage approvals
BBA statistics director, David Dooks, said of the latest data:
"The longer it takes to emerge from recession, the longer we will see households and businesses continue to borrow with caution. The banks' mortgage lending, still growing by more than 4% a year, shows one aspect of consumer behaviour but unsecured borrowing is subdued and people are building up deposits.
"A mixture of lower business demand, alternative corporate funding and tighter lending conditions, all giving rise to the on-going contraction in lending to non-financial companies, is a reflection of current market conditions."
Listen to the October figures for the main high street banks quote.
October 09 monthly statistics (MP3)
Please see the full release via the links below.
For further information, please contact:
Press Office (020 7216 8989 )
Out of hours (020 7216 8888 )
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, operating some 150 million accounts in the UK and making 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 around half of all consumer credit and, within that, some 60% of all new card credit. They include the seven largest retail lending groups 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, are included in 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 30 November 2009.
Related Links
Monthly Stats Release - Oct 09 (PDF)
historical_time_series (MS Excel)
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