January figures for the main high street banks

Main high street banks' mortgage approvals

BBA statistics director, David Dooks, said of the latest data:

"It was no surprise to see the January mortgage figures falling back from December, when transactions were being pushed through to beat the end of stamp duty relief. There was a natural reaction in the January figures and the bad weather further suppressed market activity.

"After the Christmas period, demand for consumer credit was weaker in January, as people shied away, or were discouraged by the weather, from retail spending and held on to their deposits.

"The total amount lent to non-financial companies of £340bn continues to contract, as demand for finance remains subdued and trading conditions are still adversely impacting on business sentiment."

For further information, please contact:
BBA Press Office (020 7216 8989 )
David Dooks, Director, Statistics (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, 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: Santander UK (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 statistical reporting in January 2010, the loan assets held within special purpose vehicles, are now included in their parent banks' reported lending. The impact of this change has 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 March 2010.

Related Links

January 2010 Monthly Statistics Release (PDF)
historical_time_series (MS Excel)

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