The BBA is the voice of the banking industry for all banks who operate within the uk
December figures for the main high street banks
26/01/2010
Mortgage lending strengthened slightly in December, with gross lending inflated by some borrowers pushing through purchases ahead of the end of stamp duty relief. Consumer credit was weak, in line with weak retail sales volumes, but savings recovered from a weak November figure, to an above-trend rise.
BBA statistics director, David Dooks, said of the latest data:
"The high street banks continued to lend substantial amounts in the weaker mortgage market of 2009 approving more than 440,000 loans for house purchase. Their share of gross lending went up from a historical level of about two-thirds to three-quarters, due to specialist lenders largely withdrawing from the market and building society finance contracting.
"Households' unsecured borrowing contracted throughout the year, particularly on personal loans. After paying down debt, people sought to build up their savings."
For further information, please contact:
BBA 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 Englands 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 February 2010.
Related Links
December 2009 monthly statistics release (PDF)
historical_time_series (MS Excel)
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